Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 03, 2014 | Jun. 30, 2013 |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'OmniAmerican Bancorp, Inc. | ' | ' |
Entity Central Index Key | '0001470795 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $220,319 |
Entity Common Stock, Shares Outstanding | ' | 11,460,654 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from financial institutions | $11,498 | $21,931 |
Short-term interest-earning deposits in other financial institutions | 4,382 | 1,922 |
Total cash and cash equivalents | 15,880 | 23,853 |
Investments: | ' | ' |
Securities available for sale (Amortized cost of $433,580 on December 31, 2013 and $372,940 on December 31, 2012) | 430,775 | 383,909 |
Other | 19,782 | 12,867 |
Loans held for sale | 1,509 | 8,829 |
Loans, net of deferred fees and discounts | 831,326 | 742,171 |
Less allowance for loan losses | -6,445 | -6,900 |
Loans, net | 824,881 | 735,271 |
Premises and equipment, net | 41,512 | 43,126 |
Bank-owned life insurance | 43,606 | 32,183 |
Other Real Estate | 177 | 4,769 |
Mortgage servicing rights | 1,473 | 1,009 |
Deferred tax asset, net | 4,066 | 1,039 |
Accrued interest receivable | 3,447 | 3,340 |
Other assets | 4,205 | 7,154 |
Total assets | 1,391,313 | 1,257,349 |
Deposits: | ' | ' |
Noninterest-bearing | 58,071 | 47,331 |
Interest-bearing | 755,503 | 768,971 |
Total deposits | 813,574 | 816,302 |
Federal Home Loan Bank advances | 362,000 | 207,000 |
Repurchase agreements | 2,000 | 8,000 |
Other borrowings | 0 | 11,000 |
Accrued expenses and other liabilities | 6,597 | 9,469 |
Total liabilities | 1,184,171 | 1,051,771 |
Commitments and contingencies | ' | ' |
Stockholders’ equity: | ' | ' |
Common stock, par value $0.01 per share; 100,000,000 shares authorized; 11,451,596 shares issued and outstanding at December 31, 2013 and 11,444,800 shares issued and outstanding at December 31, 2012 | 115 | 114 |
Additional paid-in capital | 109,250 | 106,684 |
Unallocated Employee Stock Ownership Plan (“ESOPâ€) shares; 799,848 shares at December 31, 2013 and 837,936 shares at December 31, 2012 | -7,999 | -8,379 |
Retained earnings | 108,304 | 101,877 |
Accumulated other comprehensive income (loss): | ' | ' |
Unrealized gain on securities available for sale, net of income taxes | -1,851 | 7,240 |
Unrealized loss on pension plan, net of income taxes | -677 | -1,958 |
Total accumulated other comprehensive income | -2,528 | 5,282 |
Total stockholders’ equity | 207,142 | 205,578 |
Total liabilities and stockholders’ equity | $1,391,313 | $1,257,349 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Amortized cost of available for sale securities | $433,580 | $372,940 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 11,451,596 | 11,444,800 |
Common stock, shares outstanding | 11,451,596 | 11,444,800 |
Unallocated Employee Stock Ownership Plan (ESOP) shares | 799,848 | 837,936 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income: | ' | ' | ' |
Loans, including fees | $39,027 | $38,361 | $39,581 |
Securities - taxable | 9,237 | 11,667 | 14,200 |
Securities - nontaxable | 2 | 0 | 0 |
Total interest income | 48,266 | 50,028 | 53,781 |
Interest expense: | ' | ' | ' |
Deposits | 5,071 | 6,281 | 7,356 |
Borrowed funds | 2,568 | 4,563 | 5,711 |
Total interest expense | 7,639 | 10,844 | 13,067 |
Net interest income | 40,627 | 39,184 | 40,714 |
Provision for loan losses | 2,250 | 1,950 | 3,230 |
Net interest income after provision for loan losses | 38,377 | 37,234 | 37,484 |
Noninterest income: | ' | ' | ' |
Service charges and other fees | 9,122 | 8,928 | 9,356 |
Net gains on sales of securities available for sale (reclassified from unrealized gains (losses) on available-for-sale securities in accumulated other comprehensive income) | 1,701 | 860 | 797 |
Net gains on sales of loans | 1,510 | 2,941 | 951 |
Net gains (losses) on sales of repossessed assets | 34 | -106 | -452 |
Net gains (losses) on sales of premises and equipment | 312 | -8 | -6 |
Commissions | 1,467 | 1,353 | 852 |
Increase in cash surrender value of bank-owned life insurance | 1,423 | 1,167 | 938 |
Other income | 790 | 650 | 714 |
Total noninterest income | 16,359 | 15,785 | 13,150 |
Noninterest expense: | ' | ' | ' |
Salaries and benefits | 25,984 | 24,600 | 22,841 |
Software and equipment maintenance | 2,686 | 2,339 | 2,366 |
Depreciation of furniture, software and equipment | 1,554 | 1,740 | 2,606 |
FDIC insurance | 701 | 830 | 1,094 |
Net loss on write-downs of other real estate owned | 227 | 1,029 | 2,479 |
Real estate owned (income) expense | -16 | 210 | 477 |
Service fees | 515 | 482 | 493 |
Communications costs | 1,015 | 1,074 | 974 |
Other operations expense | 3,022 | 3,131 | 3,538 |
Occupancy | 3,758 | 3,808 | 3,491 |
Professional and outside services | 4,233 | 4,216 | 3,318 |
Loan servicing | 586 | 357 | 503 |
Marketing | 718 | 627 | 643 |
Total noninterest expense | 44,983 | 44,443 | 44,823 |
Income before income tax expense | 9,753 | 8,576 | 5,811 |
Income tax expense (includes income tax expense from items reclassified from accumulated other comprehensive income of $578, $292 and $271 for the year ended December 31, 2013, 2012 and 2011, respectively) | 3,326 | 2,878 | 1,844 |
Net income | $6,427 | $5,698 | $3,967 |
Earnings per share: | ' | ' | ' |
Basic | $0.62 | $0.55 | $0.37 |
Diluted | $0.61 | $0.55 | $0.37 |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income Consolidated Statements of Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $1,701 | $860 | $797 |
Income tax expense due to AOCI reclassifications | $578 | $292 | $271 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $6,427 | $5,698 | $3,967 |
Securities available for sale, Change in net unrealized gain during the year | -12,073 | -247 | 11,124 |
Securities available for sale, Reclassification adjustment for net gains included in net income | -1,701 | -860 | -797 |
Total securities available for sale | -13,774 | -1,107 | 10,327 |
Pension plan, Change in net loss | 1,941 | 239 | -1,406 |
Other comprehensive (loss) income, before income tax | -11,833 | -868 | 8,921 |
Deferred tax benefit (expense) related to other comprehensive income | 4,023 | 295 | -3,033 |
Other comprehensive (loss) income, net of income tax | -7,810 | -573 | 5,888 |
Comprehensive (loss) income | ($1,383) | $5,125 | $9,855 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Unallocated ESOP shares | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands | ||||||
Beginning balance at Dec. 31, 2010 | $198,627 | $119 | $115,470 | ($9,141) | $92,212 | ($33) |
ESOP shares allocated, 38,088 shares in 2013, 2012, and 2011 | 567 | 0 | 186 | 381 | 0 | 0 |
Stock purchased and retired at cost; 20,069 shares in 2013, 42,500 shares in 2012, and 706,525 shares in 2011 | -10,333 | -7 | -10,326 | 0 | 0 | 0 |
Share-based compensation expense | 308 | 0 | 308 | 0 | 0 | 0 |
Net income | 3,967 | 0 | 0 | 0 | 3,967 | 0 |
Other comprehensive income (loss) | 5,888 | 0 | 0 | 0 | 0 | 5,888 |
Ending balance at Dec. 31, 2011 | 199,024 | 112 | 105,638 | -8,760 | 96,179 | 5,855 |
ESOP shares allocated, 38,088 shares in 2013, 2012, and 2011 | 792 | 0 | 411 | 381 | 0 | 0 |
Stock purchased and retired at cost; 20,069 shares in 2013, 42,500 shares in 2012, and 706,525 shares in 2011 | -894 | -1 | -893 | 0 | 0 | 0 |
Share-based compensation expense | 1,331 | 0 | 1,331 | 0 | 0 | 0 |
Tax benefit from the exercise of stock options and the vesting of restricted stock | 61 | 0 | 61 | 0 | 0 | 0 |
Stock options exercised; 38,997 shares in 2013, 9,873 shares in 2012, and no shares in 2011 | 139 | 0 | 139 | 0 | 0 | 0 |
Restricted stock issued, net of forfeitures; (13,489) shares in 2013, 164,879 shares in 2012, and 118,738 shares in 2011 | 0 | 3 | -3 | 0 | 0 | 0 |
Net income | 5,698 | 0 | 0 | 0 | 5,698 | 0 |
Other comprehensive income (loss) | -573 | 0 | 0 | 0 | 0 | -573 |
Ending balance at Dec. 31, 2012 | 205,578 | 114 | 106,684 | -8,379 | 101,877 | 5,282 |
ESOP shares allocated, 38,088 shares in 2013, 2012, and 2011 | 893 | 0 | 513 | 380 | 0 | 0 |
Stock purchased and retired at cost; 20,069 shares in 2013, 42,500 shares in 2012, and 706,525 shares in 2011 | -31 | 0 | -31 | 0 | 0 | 0 |
Share-based compensation expense | 1,827 | 0 | 1,827 | 0 | 0 | 0 |
Tax benefit from the exercise of stock options and the vesting of restricted stock | 134 | 0 | 134 | 0 | 0 | 0 |
Stock options exercised; 38,997 shares in 2013, 9,873 shares in 2012, and no shares in 2011 | 124 | 1 | 123 | 0 | 0 | 0 |
Net income | 6,427 | 0 | 0 | 0 | 6,427 | 0 |
Other comprehensive income (loss) | -7,810 | 0 | 0 | 0 | 0 | -7,810 |
Ending balance at Dec. 31, 2013 | $207,142 | $115 | $109,250 | ($7,999) | $108,304 | ($2,528) |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Stockholders' Equity Statement of Changes in Stockholders' Equity (Parenthetical) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Statement of Stockholders' Equity Parenthetical [Abstract] | ' | ' | ' |
Common stock, shares issued, net of offering costs | ' | ' | ' |
ESOP shares allocated | 38,088 | 38,088 | 38,088 |
Stock purchased and retired at cost | 20,069 | 42,500 | 706,525 |
Restricted stock issued, net of forfeitures | -13,489 | 164,879 | 118,738 |
Stock options exercised | 38,997 | 9,873 | 0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flow (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $6,427 | $5,698 | $3,967 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 3,315 | 3,453 | 4,236 |
Provision for loan losses | 2,250 | 1,950 | 3,230 |
Amortization of net premium on investments | 3,184 | 4,398 | 4,322 |
Amortization and impairment of mortgage servicing rights | -19 | 458 | 536 |
Deferred tax provision | 996 | 1,494 | 1,664 |
Net gains on sales of securities available for sale | -1,701 | -860 | -797 |
Net gains on sales of loans | -1,510 | -2,941 | -951 |
Net (gains) losses on sales of premises and equipment | -312 | 8 | 6 |
Proceeds from sales of loans held for sale | 65,880 | 64,298 | 8,420 |
Loans originated for sale | -57,287 | -68,730 | -9,977 |
Net loss on write-downs of other real estate owned | 227 | 1,029 | 2,479 |
Net (gains) losses on sales of repossessed assets | -34 | 106 | 452 |
Increase in cash surrender value of bank-owned life insurance | -1,423 | -1,167 | -938 |
Federal Home Loan Bank Stock Dividend | -45 | -45 | -29 |
ESOP compensation expense | 893 | 792 | 567 |
Share-based compensation | 1,827 | 1,331 | 308 |
Excess tax benefit from share-based compensation | -134 | -61 | 0 |
Changes in operating assets and liabilities: | ' | ' | ' |
Accrued interest receivable | -107 | 663 | -534 |
Other assets | 3,400 | -361 | 857 |
Accrued interest payable and other liabilities | -1,000 | -348 | -984 |
Net cash provided by operating activities | 24,827 | 11,165 | 16,834 |
Securities available for sale: | ' | ' | ' |
Purchases | -210,004 | -53,003 | -441,922 |
Proceeds from sales | 46,215 | 60,440 | 127,799 |
Proceeds from maturities, calls and principal repayments | 101,666 | 133,950 | 108,790 |
Purchases of bank-owned life insurance | -10,000 | -10,000 | 0 |
Purchases of other investments | -8,660 | -2,001 | -12,179 |
Redemptions and sales of other investments | 1,790 | 3,249 | 1,803 |
Net increase in loans held for investment | -95,063 | -68,496 | -72,813 |
Proceeds from sales of loans held for investment | 0 | 9,365 | 41,796 |
Purchases of premises and equipment | -2,082 | -1,667 | -1,549 |
Proceeds from sales of premises and equipment | 693 | 23 | 29 |
Proceeds from sales of foreclosed assets | 2,573 | 2,921 | 2,600 |
Proceeds from sales of other real estate owned | 4,573 | 2,775 | 8,230 |
Net cash (used in) provided by investing activities | -168,299 | 77,556 | -237,416 |
Cash flows from financing activities: | ' | ' | ' |
Net (decrease) increase in deposits | -2,728 | 8,668 | 6,476 |
Net Increase Decrease in Federal Home Loan Bank Advances | 155,000 | -55,000 | 221,000 |
Net decrease in repurchase agreements | -6,000 | -50,000 | 0 |
Net (decrease) increase in other borrowings | -11,000 | 11,000 | 0 |
Proceeds from stock options exercised | 124 | 139 | 0 |
Excess tax benefit from share-based compensation | 134 | 61 | 0 |
Purchase of common stock | -31 | -894 | -10,333 |
Net cash provided by (used in) financing activities | 135,499 | -86,026 | 217,143 |
Net (decrease) increase in cash and cash equivalents | -7,973 | 2,695 | -3,439 |
Cash and cash equivalents, beginning of period | 23,853 | 21,158 | 24,597 |
Cash and cash equivalents, end of period | 15,880 | 23,853 | 21,158 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid | 7,709 | 11,370 | 13,011 |
Income taxes paid, net of refunds | 2,000 | 2,036 | 3 |
Non-cash transactions: | ' | ' | ' |
Loans transferred to other real estate owned | 184 | 1,958 | 3,038 |
Loans transferred to foreclosed assets | 3,019 | 3,100 | 2,633 |
Loans transferred to other investments | 0 | 631 | 0 |
Change in unrealized gains/losses on securities available for sale | ($13,774) | ($1,107) | $10,327 |
Summary_of_Significant_Account
Summary of Significant Accounting and Reporting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
NOTE 1 – Summary of Significant Accounting and Reporting Policies | |
Nature of Operations and Basis of Presentation | |
The consolidated financial statements include the accounts of OmniAmerican Bancorp, Inc. and its wholly-owned subsidiary, OmniAmerican Bank, together referred to as “OmniAmerican” or the “Company.” All significant intercompany balances and transactions have been eliminated in consolidation. | |
OmniAmerican Bancorp, Inc., a Maryland corporation, owns all of the outstanding shares of OmniAmerican Bank (the “Bank”). The Bank is a federally-chartered savings bank headquartered in Fort Worth, Texas that provides a variety of banking and financial services to individuals and business customers. The Bank’s operations are conducted primarily through its administrative offices and 14 branches located in the Dallas/Fort Worth Metroplex and Hood County. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The allowance for loan losses, realization of deferred tax assets, and fair values of financial instruments are particularly subject to change. | |
Segment Reporting | |
Operating segments are components of a business about which separate financial information is available and that are evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and assess performance. Public companies are required to report certain financial information about operating segments in interim and annual financial statements. The Company’s chief operating decision-maker uses consolidated results to make operating and strategic decisions. Therefore, the Company is considered to have one operating segment. | |
Cash and Cash Equivalents and Concentrations | |
Cash and cash equivalents consist of cash on hand, amounts due from banks, and investments with maturities of three months or less at date of purchase. Net cash flows are reported for loan and deposit transactions. | |
The Company maintains funds on deposit at correspondent banks which at times exceed the federally insured limits. The Company’s management monitors the balances in these accounts and periodically assesses the financial condition of correspondent banks. | |
Investment Securities | |
Investments that the Company intends to hold for an indefinite period of time, but not necessarily to maturity, are classified as available for sale and are carried at fair value. Unrealized gains and losses on investments classified as available for sale have been accounted for as accumulated other comprehensive income (loss). | |
Gains and losses on the sale of available for sale securities are determined using the specific-identification method. Amortization of premiums and accretion of discounts are recognized in interest income over the period to maturity. For debt securities the Company intends to sell prior to recovery or for which it is more likely than not that the Company will have to sell prior to recovery, impairment losses are considered other-than-temporary and the entire difference between the security’s cost and its fair value is recorded in earnings. For debt securities the Company does not intend to sell or for which it is more likely than not that the Company will not have to sell prior to recovery, the Company recognizes a credit loss component of an other-than-temporary impairment in earnings and the remaining portion of the impairment loss in other comprehensive income. The credit loss component of an other-than-temporary impairment is determined based upon the Company’s estimate of the present value of the cash flows expected to be collected. | |
The Company, as a member of the Federal Home Loan Bank (“FHLB”) system, is required to maintain an investment in capital stock of the FHLB in an amount between 0.02% and 0.15% of its assets plus between 3.00% and 5.00% of advances outstanding. No ready market exists for the FHLB stock and it has no quoted market value; however, the stock is redeemable upon proper notice given to the FHLB. The investment in FHLB stock is carried at cost and dividends are recorded as income when received. FHLB stock is included in other investments in the consolidated balance sheets. | |
Loans Held for Sale | |
Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Sales in the secondary market are recognized when full acceptance and funding has been received. Gains and losses on sales of loans are recorded as the difference between the sales price and the carrying value of the loan sold. | |
Loans | |
Loans that management intends to hold for the foreseeable future or until maturity or payoff are reported at the amount of unpaid principal, net of an allowance for loan losses and deferred loan fees and costs. Interest on loans is recognized over the terms of the loans and is calculated using the simple interest method on principal amounts outstanding. Loan fees and certain direct loan origination costs are deferred, and the net fee or cost is recognized as an adjustment to interest income using the interest method over the contractual lives of the related loans. For loans that are paid off prior to their contractual maturity, any remaining unamortized loan fees or costs are recognized. | |
Premiums and discounts on purchased loans are amortized over the estimated life of the loans as an adjustment to yield using the interest method. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately review individual consumer and residential real estate loans for impairment, unless such loans are the subject of a restructuring agreement. | |
A loan modification that is renegotiated to assist borrowers who are unable to meet the original terms of their loans, and to maximize the recovery of the loans to these borrowers is considered a troubled debt restructuring (“TDR”). A TDR occurs when the Company grants a concession it would not otherwise consider because of economic or legal reasons pertaining to the borrower’s financial difficulties. TDRs are identified as impaired loans. | |
Income Recognition on Impaired and Non-accrual Loans | |
The accrual of interest on loans, including impaired loans, is discontinued when management believes that the borrower’s financial condition is such that collection of interest is doubtful. The Company’s policy is generally to discontinue accrual of interest when the loan becomes 90 days delinquent. Delinquency status is based on contractual terms of the loan. All interest accrued but not collected for loans that are placed on non-accrual status or charged off is reversed against interest income. Cash payments received on loans on non-accrual status reduce the principal of the loans. | |
Loans may be returned to accrual status when all principal and interest amounts contractually due are reasonably assured of repayment within an acceptable period of time and there is a sustained period of repayment performance by the borrower in accordance with the contractual terms of interest and principal. | |
Allowance for Loan Losses | |
The allowance for loan losses is maintained at a level that, in management’s judgment, is adequate to cover probable credit losses inherent in the loan portfolio at the balance sheet date. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as doubtful, substandard, or special mention, and that are also classified as impaired. For such loans that are also classified as impaired, an allowance is established when the expected cash flows, discounted at the loan's contractual rate (or, for collateral dependent loans, the collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is primarily based on the historical loss experience adjusted for relevant qualitative factors. | |
The allowance for loan losses includes allowance allocations calculated in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables” and allowance allocations calculated in accordance with ASC Topic 450, “Contingencies.” Further information regarding the Company’s policies and methodology used to estimate the allowance for loan losses is presented in Note 4 – Loans and Allowance for Loan Losses. | |
Premises and Equipment | |
Land is carried at cost. Depreciable premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation expense is computed on the straight-line method based upon the estimated useful lives of the assets ranging from 20 to 40 years for buildings and building improvements and from three to 10 years for furniture and equipment. Maintenance and repairs are charged to noninterest expense. Renewals and betterments are added to the asset accounts and depreciated over the periods benefited. Depreciable assets sold or retired are removed from the asset and related accumulated depreciation accounts and any resulting gain or loss is reflected in the income and expense accounts. The cost of leasehold improvements is amortized using the straight-line method over the lesser of the useful lives of the assets or the terms of the related leases. | |
Bank-Owned Life Insurance | |
The Company has purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Changes in the net cash surrender value of the policies, as well as insurance proceeds received are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes. | |
Other Real Estate Owned and Foreclosed Assets | |
Other real estate owned is recorded at fair value less the estimated costs to sell the property at the date of transfer to other real estate owned. The fair value of other real estate is determined through independent third-party appraisals. At the time a loan is transferred to other real estate owned, any carrying amount in excess of the fair value less estimated costs to sell the property is charged off to the allowance for loan losses. Subsequently, should the fair value of an asset, less the estimated costs to sell, decline to less than the carrying amount of the asset, the deficiency is recognized in the period in which it becomes known and is included in noninterest expense. Net operating expenses of properties are also included in noninterest expense. Gains and losses realized from sales of other real estate owned are recorded in noninterest income. | |
Other foreclosed assets are held for sale and are initially recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less costs to sell. Foreclosed assets are included in other assets in the accompanying consolidated balance sheets. Revenues and expenses from operations and changes in the valuation allowance are included in noninterest expense. | |
Interest Rate Lock Commitments | |
Interest rate lock commitments for mortgage loans originated for sale are carried at fair value and are included in other assets in the consolidated balance sheets. See Note 6 — Derivative Financial Instruments for additional information. | |
Mortgage Servicing Rights | |
Mortgage servicing rights are initially recorded at fair value when acquired through the sale of loans with servicing rights retained and are amortized to servicing income on loans sold in proportion to and over the period of estimated net servicing income. The value of mortgage servicing rights at the date of the sale of loans is determined based on the discounted present value of expected future cash flows using key assumptions for servicing income and costs and prepayment rates on the underlying loans. | |
The estimated fair value is evaluated periodically with the assistance of a third-party firm for impairment by comparing actual cash flows and estimated cash flows from the servicing assets to those estimated at the time servicing assets were originated. The effect of changes in market interest rates on estimated rates of loan prepayments represents the predominant risk characteristic underlying the mortgage servicing rights portfolio. The Company’s methodology for estimating the fair value of mortgage servicing rights is highly sensitive to changes in assumptions. For example, the determination of fair value uses anticipated prepayment speeds. Actual prepayment experience may differ and any difference may have a material effect on the fair value. Thus, any measurement of mortgage servicing rights’ fair value is limited by the conditions existing and assumptions as of the date made. Those assumptions may not be appropriate if they are applied at different times. | |
Stock-Based Compensation | |
Compensation cost is recognized for stock option and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. | |
Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |
Transfers of Financial Assets | |
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |
Income Taxes | |
The Company accounts for income taxes using the asset and liability method of accounting for income taxes as prescribed in ASC Topic 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss carryforwards. If currently available information raises doubt as to the realization of the deferred tax assets, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company evaluates uncertain tax positions at the end of each reporting period. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefit recognized in the financial statements from any such position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of December 31, 2013 and 2012, after evaluating all uncertain tax positions, the Company concluded there were no material uncertain tax positions. The Company’s federal income tax returns have not been audited for the tax years 2006 through 2012. | |
Comprehensive Income (Loss) | |
Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and the defined benefit pension plan, are reported in the consolidated statements of comprehensive income (loss). | |
Restrictions on Cash | |
Cash on hand or on deposit with the Federal Reserve Bank of $1,122 and $12,648 was required to meet regulatory reserve and clearing requirements at December 31, 2013 and 2012, respectively. | |
Advertising Costs | |
Advertising costs are charged to earnings as incurred. Advertising costs of $576, $409, and $446 were charged to earnings during the years ended December 31, 2013, 2012, and 2011, respectively. | |
Earnings Per Common Share | |
Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period, reduced for unallocated ESOP shares. Diluted earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period increased for the dilutive effect of unvested stock options and stock awards, if any. | |
Employee Stock Ownership Plan | |
Compensation expense for the Company's Employee Stock Ownership Plan ("ESOP") is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of the shares during the period. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity in the consolidated balance sheets. The difference between the average fair market value and the cost of the shares allocated by the ESOP is recorded as an adjustment to additional paid-in capital. | |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2011-11, “Balance Sheet: Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 requires entities to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. ASU 2011-11 is effective for periods beginning on or after January 1, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the Company’s financial statements. | |
In January 2013, the FASB issued ASU No. 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” This guidance amends the scope of ASU No. 2011-11 to clarify that the disclosure requirements are limited to derivatives, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset in the statement of financial position or subject to an enforceable master netting arrangement or similar agreement. The adoption of this guidance did not have a material impact on the Company’s financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” Under ASU 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated comprehensive income by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures that provide additional details about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in the financial statements. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012 for public companies. The adoption of this guidance did not have a material impact on the Company’s financial statements. |
Concentration_of_Funds
Concentration of Funds | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Concentration of Funds [Abstract] | ' | |||||||
Concentration of Funds [Text Block] | ' | |||||||
NOTE 2 – Concentration of Funds | ||||||||
The Company had the following balances on deposit at other financial institutions at the dates indicated: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
TIB—The Independent BankersBank | $ | 3,007 | $ | 553 | ||||
ViewPoint Bank | — | 874 | ||||||
U. S. Bank | 3,296 | 3,296 | ||||||
$ | 6,303 | $ | 4,723 | |||||
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||||
The amortized cost and estimated fair values of investment securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) as of December 31, 2013 and 2012 were as follows: | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 282,180 | $ | 2,616 | $ | (5,208 | ) | $ | 279,588 | |||||||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 140,221 | 1,758 | (1,403 | ) | 140,576 | |||||||||||||||||||
Agency bonds | 5,000 | — | (462 | ) | 4,538 | |||||||||||||||||||
Municipal obligations | 179 | — | (9 | ) | 170 | |||||||||||||||||||
Other equity securities | 6,000 | — | (97 | ) | 5,903 | |||||||||||||||||||
Total investment securities available for sale | $ | 433,580 | $ | 4,374 | $ | (7,179 | ) | $ | 430,775 | |||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 192,894 | $ | 6,843 | $ | (7 | ) | $ | 199,730 | |||||||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 169,046 | 3,871 | (21 | ) | 172,896 | |||||||||||||||||||
Agency bonds | 5,000 | 15 | — | 5,015 | ||||||||||||||||||||
Other equity securities | 6,000 | 268 | — | 6,268 | ||||||||||||||||||||
Total investment securities available for sale | $ | 372,940 | $ | 10,997 | $ | (28 | ) | $ | 383,909 | |||||||||||||||
Investment securities available for sale with gross unrealized losses at December 31, 2013 and 2012, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: | ||||||||||||||||||||||||
Continuous Unrealized Losses Existing for | ||||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 142,715 | $ | (5,088 | ) | $ | 2,248 | $ | (120 | ) | $ | 144,963 | $ | (5,208 | ) | |||||||||
U. S. Government-sponsored collateralized mortgage obligations | 50,066 | (1,403 | ) | — | — | 50,066 | (1,403 | ) | ||||||||||||||||
Agency bonds | 4,538 | (462 | ) | — | — | 4,538 | (462 | ) | ||||||||||||||||
Municipal obligations | 170 | (9 | ) | — | — | 170 | (9 | ) | ||||||||||||||||
Other equity securities | 5,903 | (97 | ) | — | — | 5,903 | (97 | ) | ||||||||||||||||
$ | 203,392 | $ | (7,059 | ) | $ | 2,248 | $ | (120 | ) | $ | 205,640 | $ | (7,179 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 4,708 | $ | (7 | ) | $ | — | $ | — | $ | 4,708 | $ | (7 | ) | ||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 9,467 | (21 | ) | — | — | 9,467 | (21 | ) | ||||||||||||||||
$ | 14,175 | $ | (28 | ) | $ | — | $ | — | $ | 14,175 | $ | (28 | ) | |||||||||||
At December 31, 2013, the Company owned 202 investments of which 82 had unrealized losses. At December 31, 2012, the Company owned 170 investments of which seven had unrealized losses. Unrealized losses generally result from interest rate levels differing from those existing at the time of purchase of the securities and, as to mortgage-backed securities, estimated prepayment speeds. These unrealized losses are considered to be temporary as they are interest rate related, and the Company does not intend to sell and it is more likely than not the Company will not have to sell prior to recovery. The fair values on December 31, 2013 and 2012, are subject to change daily as interest rates fluctuate. | ||||||||||||||||||||||||
The amortized cost and fair value of securities available for sale by contractual maturity at December 31, 2013 are summarized in the following table. Maturities are based on the final contractual payment dates, and do not reflect the impact of prepayments or earlier redemptions that may occur. | ||||||||||||||||||||||||
Amortized | Fair Value | |||||||||||||||||||||||
Cost | ||||||||||||||||||||||||
Due from one to five years | $ | 1,347 | $ | 1,429 | ||||||||||||||||||||
Due from five to ten years | 21,056 | 20,072 | ||||||||||||||||||||||
Due after ten years | 405,177 | 403,371 | ||||||||||||||||||||||
Equity securities | 6,000 | 5,903 | ||||||||||||||||||||||
Total | $ | 433,580 | $ | 430,775 | ||||||||||||||||||||
Investment securities with a fair value of $161,553 and $28,745 at December 31, 2013 and 2012, respectively, were pledged to secure Federal Home Loan Bank advances. In addition, investment securities with fair value of $2,192 and $8,990 at December 31, 2013 and 2012, respectively, were pledged to secure other borrowings. | ||||||||||||||||||||||||
Sales activity of securities available for sale for the years ended December 31, 2013, 2012, and 2011 was as follows: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from sales of investment securities | $ | 46,215 | $ | 60,440 | $ | 127,799 | ||||||||||||||||||
Gross gains from sales of investment securities | 1,701 | 860 | 3,708 | |||||||||||||||||||||
Gross losses from sales of investment securities | — | — | (2,911 | ) | ||||||||||||||||||||
Gains or losses on the sales of securities are recognized at the trade date utilizing the specific identification method. | ||||||||||||||||||||||||
Other investments consisted of the following at the dates indicated: | ||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Federal Home Loan Bank of Dallas stock | $ | 17,424 | $ | 10,800 | ||||||||||||||||||||
SBA Loan Fund | 1,750 | 1,750 | ||||||||||||||||||||||
Valesco Commerce SBIC Investment Fund | 476 | 292 | ||||||||||||||||||||||
Lone Star Opportunities Investment Funds | 107 | — | ||||||||||||||||||||||
Community Development Investment | 25 | 25 | ||||||||||||||||||||||
$ | 19,782 | $ | 12,867 | |||||||||||||||||||||
The Company views its investment in the stock of the FHLB of Dallas as a long-term investment. Accordingly, when evaluating for impairment, the value is determined based on the ultimate recovery of the par value rather than recognizing temporary declines in value. The decision of whether impairment exists is a matter of judgment that should reflect the investor’s views on the FHLB of Dallas’ long-term performance, which includes factors such as its operating performance, the severity and duration of declines of the market value of its net assets relative to its capital stock amount, its commitment to make payments required by law or regulation and the level of such payments in relation to its operating performance, the impact of legislative and regulation changes on the FHLB of Dallas and accordingly, on the members of the FHLB of Dallas, and its liquidity and funding position. The Company does not believe that its investment in the FHLB of Dallas was impaired at December 31, 2013 or 2012. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | |||||||||||||||||||||||||||||||||||||||
NOTE 4 – Loans and Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||
The composition of the loan portfolio was as follows at the dates indicated: | ||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 262,723 | $ | 251,756 | ||||||||||||||||||||||||||||||||||||
Home equity | 17,106 | 20,863 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate loans | 279,829 | 272,619 | ||||||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 106,560 | 84,783 | ||||||||||||||||||||||||||||||||||||||
Real estate construction | 59,648 | 52,245 | ||||||||||||||||||||||||||||||||||||||
Commercial business | 69,320 | 63,390 | ||||||||||||||||||||||||||||||||||||||
Total commercial loans | 235,528 | 200,418 | ||||||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 264,671 | 221,907 | ||||||||||||||||||||||||||||||||||||||
Automobile, direct | 31,598 | 27,433 | ||||||||||||||||||||||||||||||||||||||
Other consumer | 15,330 | 16,707 | ||||||||||||||||||||||||||||||||||||||
Total consumer loans | 311,599 | 266,047 | ||||||||||||||||||||||||||||||||||||||
Total loans | 826,956 | 739,084 | ||||||||||||||||||||||||||||||||||||||
Deferred fees and discounts | 4,370 | 3,087 | ||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (6,445 | ) | (6,900 | ) | ||||||||||||||||||||||||||||||||||||
Total loans receivable, net | $ | 824,881 | $ | 735,271 | ||||||||||||||||||||||||||||||||||||
A large percentage of the Company’s customers work or reside in Tarrant or Dallas County, and in the surrounding areas. Although the Company has a diversified loan portfolio, borrowers’ ability to repay loans may be affected by the economic climate of the overall geographic region in which borrowers reside. | ||||||||||||||||||||||||||||||||||||||||
In 2008, the Bank began purchasing one- to four-family residential loans at a discounted price to the principal balance of the mortgage loans. These loans did not exhibit evidence of credit deterioration at the time of purchase. The discount on the purchased loans is accreted to interest income using the effective interest method for fixed-rate loans and using the straight-line method for adjustable-rate loans. As of December 31, 2013, the total outstanding loan balance of all purchased one- to four-family residential loans was $13,619, while the carrying value, net of purchase discounts was $11,944. As of December 31, 2012, the total outstanding loan balance of all purchased one- to four-family residential loans was $16,353, while the carrying value, net of purchase discounts was $14,193. The Bank did not purchase any loans during the years ended December 31, 2013 or 2012. | ||||||||||||||||||||||||||||||||||||||||
In 2009, the Company established a line of credit with the Federal Reserve Bank. As of December 31, 2013, $49,512 of commercial loans and $249,372 of consumer loans were pledged as collateral for this line of credit. The Company also has a line of credit with the FHLB of Dallas which allows it to borrow on a collateralized basis at a fixed term and overnight with pledged assignments. The borrowings are collateralized by a blanket floating lien on all first mortgage loans, mortgage-backed securities, the FHLB capital stock owned by the Company, and any funds on deposit with FHLB. As of December 31, 2013, $204,241 of loans were pledged as collateral for this line of credit. | ||||||||||||||||||||||||||||||||||||||||
The following table presents loans identified as impaired by class of loans as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | ||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 7,531 | $ | 7,531 | $ | — | $ | 7,468 | $ | 305 | ||||||||||||||||||||||||||||||
Home equity | 42 | 42 | — | 14 | 1 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 2,347 | 2,347 | — | 4,237 | 31 | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | 3,171 | 66 | |||||||||||||||||||||||||||||||||||
Commercial business | 591 | 591 | — | 700 | 21 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | 824 | 824 | — | 738 | 26 | |||||||||||||||||||||||||||||||||||
Automobile, direct | 32 | 32 | — | 34 | 2 | |||||||||||||||||||||||||||||||||||
Other consumer | 15 | 15 | — | 4 | — | |||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | 11,382 | 11,382 | — | 16,366 | 452 | |||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial real estate | 551 | 551 | 321 | 46 | — | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial business | 1,040 | 1,040 | 200 | 1,064 | 8 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Automobile, direct | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Impaired loans with an allowance recorded | 1,591 | 1,591 | 521 | 1,110 | 8 | |||||||||||||||||||||||||||||||||||
Total | $ | 12,973 | $ | 12,973 | $ | 521 | $ | 17,476 | $ | 460 | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 6,995 | $ | 6,995 | $ | — | $ | 7,781 | $ | 285 | ||||||||||||||||||||||||||||||
Home equity | 32 | 32 | — | 50 | 2 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 6,263 | 6,263 | — | 6,965 | 133 | |||||||||||||||||||||||||||||||||||
Real estate construction | 4,707 | 4,707 | — | 6,093 | 122 | |||||||||||||||||||||||||||||||||||
Commercial business | 807 | 807 | — | 1,301 | 35 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | 606 | 606 | — | 523 | 20 | |||||||||||||||||||||||||||||||||||
Automobile, direct | 51 | 51 | — | 63 | 5 | |||||||||||||||||||||||||||||||||||
Other consumer | 3 | 3 | — | 4 | — | |||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | 19,464 | 19,464 | — | 22,780 | 602 | |||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial business | 981 | 981 | 278 | 1,124 | 14 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Automobile, direct | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Impaired loans with an allowance recorded | 981 | 981 | 278 | 1,124 | 14 | |||||||||||||||||||||||||||||||||||
Total | $ | 20,445 | $ | 20,445 | $ | 278 | $ | 23,904 | $ | 616 | ||||||||||||||||||||||||||||||
As of December 31, 2013 and 2012, no additional funds were committed to be advanced in connection with impaired loans. | ||||||||||||||||||||||||||||||||||||||||
The following table presents the recorded investment in non-accrual loans by class of loans as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 2,050 | $ | 1,026 | ||||||||||||||||||||||||||||||||||||
Home equity | 42 | — | ||||||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 800 | 5,444 | ||||||||||||||||||||||||||||||||||||||
Real estate construction | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial business | 864 | 1,245 | ||||||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 558 | 143 | ||||||||||||||||||||||||||||||||||||||
Automobile, direct | 15 | — | ||||||||||||||||||||||||||||||||||||||
Other consumer | 15 | — | ||||||||||||||||||||||||||||||||||||||
Total | $ | 4,344 | $ | 7,858 | ||||||||||||||||||||||||||||||||||||
There were no loans greater than 90 days past due that continued to accrue interest at December 31, 2013 or 2012. | ||||||||||||||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of December 31, 2013 and 2012 by class of loans: | ||||||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Loans Not | Total | |||||||||||||||||||||||||||||||||||
Days | Days | than | Past Due | Past Due | ||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | ||||||||||||||||||||||||||||||||||||||
Past Due | ||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 1,170 | $ | — | $ | 1,932 | $ | 3,102 | $ | 259,621 | $ | 262,723 | ||||||||||||||||||||||||||||
Home equity | 1 | — | 42 | 43 | 17,063 | 17,106 | ||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | — | — | 120 | 120 | 106,440 | 106,560 | ||||||||||||||||||||||||||||||||||
Real estate construction | 876 | — | — | 876 | 58,772 | 59,648 | ||||||||||||||||||||||||||||||||||
Commercial business | — | — | — | — | 69,320 | 69,320 | ||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 2,217 | 615 | 558 | 3,390 | 261,281 | 264,671 | ||||||||||||||||||||||||||||||||||
Automobile, direct | 48 | 21 | 15 | 84 | 31,514 | 31,598 | ||||||||||||||||||||||||||||||||||
Other consumer | 72 | 33 | 15 | 120 | 15,210 | 15,330 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 4,384 | $ | 669 | $ | 2,682 | $ | 7,735 | $ | 819,221 | $ | 826,956 | ||||||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 3,717 | $ | 1,487 | $ | 897 | $ | 6,101 | $ | 245,655 | $ | 251,756 | ||||||||||||||||||||||||||||
Home equity | 260 | 36 | — | 296 | 20,567 | 20,863 | ||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 224 | 27 | 3,730 | 3,981 | 80,802 | 84,783 | ||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | 52,245 | 52,245 | ||||||||||||||||||||||||||||||||||
Commercial business | 18 | — | — | 18 | 63,372 | 63,390 | ||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 1,176 | 346 | 144 | 1,666 | 220,241 | 221,907 | ||||||||||||||||||||||||||||||||||
Automobile, direct | 22 | 30 | — | 52 | 27,381 | 27,433 | ||||||||||||||||||||||||||||||||||
Other consumer | 62 | 19 | — | 81 | 16,626 | 16,707 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 5,479 | $ | 1,945 | $ | 4,771 | $ | 12,195 | $ | 726,889 | $ | 739,084 | ||||||||||||||||||||||||||||
The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s best estimate of probable losses that have been incurred within the existing portfolio of loans. Our methodology for evaluating the adequacy of the allowance for loan losses consists of: | ||||||||||||||||||||||||||||||||||||||||
• | a specific loss component which is the allowance for impaired loans pursuant to ASC 310-10, “Receivables,” and | |||||||||||||||||||||||||||||||||||||||
• | a general loss component for all other loans not individually evaluated for impairment but that, on a portfolio basis, are believed to have some inherent but unidentified loss pursuant to ASC 450-10, “Contingencies.” | |||||||||||||||||||||||||||||||||||||||
The specific component of the allowance for loan losses relates to loans that are classified as doubtful or substandard. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for non-homogeneous loans, including one- to four-family residential real estate loans with balances in excess of $1,000, commercial real estate, real estate construction, and commercial business loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, consumer and one- to four-family residential real estate loans with balances less than $1,000 are not separately identified for impairment disclosures, unless such loans are the subject of a restructuring agreement. | ||||||||||||||||||||||||||||||||||||||||
The general component of the allowance for loan losses covers unimpaired loans and is based on the historical loss experience adjusted for other qualitative factors. The loan portfolio is stratified into homogeneous groups of loans that possess similar loss potential characteristics and an appropriate loss ratio adjusted for other qualitative factors is applied to the homogeneous pools of loans to estimate the incurred losses in the loan portfolio. The other qualitative factors considered by management include, but are not limited to, the following: | ||||||||||||||||||||||||||||||||||||||||
• | changes in lending policies and procedures, including underwriting standards and collection, charge-off, and recovery practices; | |||||||||||||||||||||||||||||||||||||||
• | changes in national and local economic and business conditions and developments, including the condition of various market segments; | |||||||||||||||||||||||||||||||||||||||
• | changes in the nature and volume of the loan portfolio; | |||||||||||||||||||||||||||||||||||||||
• | changes in the experience, ability, and depth of knowledge of the management of the lending staff; | |||||||||||||||||||||||||||||||||||||||
• | changes in the trend of the volume and severity of past due and classified loans; and trends in the volume of non-accrual loans, troubled debt restructurings, and other loan modifications; | |||||||||||||||||||||||||||||||||||||||
• | changes in the quality of our loan review system and the degree of oversight by the board of directors; | |||||||||||||||||||||||||||||||||||||||
• | the existence and effect of any concentrations of credit, and changes in the level of such concentrations; and | |||||||||||||||||||||||||||||||||||||||
• | the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in our current portfolio. | |||||||||||||||||||||||||||||||||||||||
Consumer loans generally have greater risk of loss or default than one- to four-family residential real estate loans, particularly in the case of loans that are secured by rapidly depreciable assets, such as automobiles, or loans that are unsecured. In these cases, a risk exists that the collateral, if any, for a defaulted loan may not provide an adequate source of repayment of the outstanding loan balance. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the ability to recover on consumer loans. | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans generally have greater credit risks compared to one- to four-family residential real estate loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment experience on loans secured by income-producing properties typically depends on the successful operation of the related real estate project and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. | ||||||||||||||||||||||||||||||||||||||||
Commercial business loans involve a greater risk of default than residential real estate loans of like duration since their repayment generally depends on the successful operation of the borrower’s business and the sufficiency of collateral, if any. Loans secured by multi-family residential real estate generally involve a greater degree of credit risk than one- to four-family residential real estate loans and carry larger loan balances. This increased credit risk is a result of several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties, and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family mortgages typically depends upon the successful operation of the related real estate property. If the cash flow from the project is reduced, the borrower’s ability to repay the loan may be impaired. | ||||||||||||||||||||||||||||||||||||||||
Real estate construction loans generally have greater credit risk than traditional one- to four-family residential real estate loans. The repayment of these loans depends upon the sale of the property to third parties or the availability of permanent financing upon completion of all improvements. In the event a loan is made on property that is not yet approved for the planned development, there is the risk that approvals will not be granted or will be delayed. These events may adversely affect the borrower and the collateral value of the property. Real estate construction loans also expose us to the risk that improvements will not be completed on time in accordance with specifications and projected costs. In addition, the ultimate sale or rental of the property may not occur as anticipated. | ||||||||||||||||||||||||||||||||||||||||
When establishing the allowance for loan losses, management categorizes loans into risk categories based on the class of loans — residential real estate, commercial, or consumer — and relevant information about the ability of the borrowers to repay the loans, such as the current economic conditions, historical payment experience, the nature and volume of the loan portfolio, the financial strength of the borrower and the estimated value of any underlying collateral, among other factors. Management classifies the loans individually analyzed for impairment as to credit risk. This analysis includes residential real estate loans with an outstanding balance in excess of $1,000 and non-homogeneous loans, such as commercial real estate, real estate construction, and commercial business loans. The following definitions for the credit risk ratings are used for such loans. | ||||||||||||||||||||||||||||||||||||||||
Special mention. Special mention loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special mention assets are not adversely classified and do not expose the institution to sufficient risk to warrant adverse classification. | ||||||||||||||||||||||||||||||||||||||||
Substandard. Substandard loans have well defined weaknesses where a payment default and/or a loss is possible, but not yet probable. Loans so classified are inadequately protected by the current net worth and repayment capacity of the obligor or of the collateral pledged, if any. If deficiencies are not corrected quickly, there is a possibility of loss. | ||||||||||||||||||||||||||||||||||||||||
Doubtful. Doubtful loans have the weaknesses and characteristics of substandard loans, but the available information suggests that collection or liquidation in its entirety, on the basis of currently existing facts, conditions and values, is highly improbable. The possibility of a loss is exceptionally high, but certain identifiable contingencies could possibly arise (proposed merger, acquisition, capital injection, refinancing plans, and pledging of additional collateral) that may strengthen the loan, such that it is reasonable to defer its classification as a loss until a more exact status is determined. | ||||||||||||||||||||||||||||||||||||||||
Loans not meeting the criteria described above that are analyzed individually for impairment are considered to be pass-rated loans. | ||||||||||||||||||||||||||||||||||||||||
The following table presents the risk category of loans by class for loans individually analyzed for impairment as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Real Estate | Commercial | One-to Four- | Total | ||||||||||||||||||||||||||||||||||||
Construction | Business | Family | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Pass | $ | 101,134 | $ | 75,698 | $ | 59,536 | $ | 47,299 | $ | 64,155 | $ | 58,488 | $ | 15,514 | $ | 12,191 | $ | 240,339 | $ | 193,676 | ||||||||||||||||||||
Special Mention | 735 | — | — | — | 2,164 | 2,264 | — | — | 2,899 | 2,264 | ||||||||||||||||||||||||||||||
Substandard | 4,691 | 9,085 | 112 | 4,946 | 3,001 | 2,638 | 3,175 | 3,250 | 10,979 | 19,919 | ||||||||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
$ | 106,560 | $ | 84,783 | $ | 59,648 | $ | 52,245 | $ | 69,320 | $ | 63,390 | $ | 18,689 | $ | 15,441 | $ | 254,217 | $ | 215,859 | |||||||||||||||||||||
The Company classifies residential real estate loans that are not analyzed individually for impairment (less than $1,000) as prime or subprime. The Company defines a subprime residential real estate loan as any loan to a borrower who has no credit score or a credit score of less than 661 along with at least one of the following at the time of funding: | ||||||||||||||||||||||||||||||||||||||||
• | Two or more 30 day delinquencies in the past 12 months | |||||||||||||||||||||||||||||||||||||||
• | One or more 60 day delinquencies in the past 24 months | |||||||||||||||||||||||||||||||||||||||
• | Bankruptcy filing within the past 60 months | |||||||||||||||||||||||||||||||||||||||
• | Judgment or unpaid charge-off of $0.5 or more in the past 24 months | |||||||||||||||||||||||||||||||||||||||
• | Foreclosure or repossession in the past 24 months | |||||||||||||||||||||||||||||||||||||||
All other residential real estate loans not individually analyzed for impairment are classified as prime or subprime. | ||||||||||||||||||||||||||||||||||||||||
The following table presents the prime and subprime residential real estate loans collectively evaluated for impairment as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
One-to Four-Family | Home Equity | Total | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Prime | $ | 195,919 | $ | 189,529 | $ | 16,521 | $ | 20,106 | $ | 212,440 | $ | 209,635 | ||||||||||||||||||||||||||||
Subprime | 48,115 | 46,786 | 585 | 757 | 48,700 | 47,543 | ||||||||||||||||||||||||||||||||||
$ | 244,034 | $ | 236,315 | $ | 17,106 | $ | 20,863 | $ | 261,140 | $ | 257,178 | |||||||||||||||||||||||||||||
The Company evaluates consumer loans based on the credit score for each borrower when the loan is originated. The Company defines a subprime consumer loan as any loan to a borrower who has a credit score of less than 661 at the time of funding. The following table presents the credit score for each of the classes of consumer loans as of December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
Automobile, | Automobile, | Other Consumer | Total | |||||||||||||||||||||||||||||||||||||
indirect | direct | |||||||||||||||||||||||||||||||||||||||
Risk Tier | Credit Score | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
A | 720+ | $ | 135,583 | $ | 113,192 | $ | 23,137 | $ | 19,873 | $ | 11,453 | $ | 12,408 | $ | 170,173 | $ | 145,473 | |||||||||||||||||||||||
B | 690–719 | 53,678 | 45,625 | 4,311 | 3,986 | 2,228 | 2,203 | 60,217 | 51,814 | |||||||||||||||||||||||||||||||
C | 661-689 | 44,732 | 36,247 | 2,320 | 2,023 | 1,268 | 1,631 | 48,320 | 39,901 | |||||||||||||||||||||||||||||||
D | 660 and under | 30,678 | 26,843 | 1,830 | 1,551 | 381 | 465 | 32,889 | 28,859 | |||||||||||||||||||||||||||||||
$ | 264,671 | $ | 221,907 | $ | 31,598 | $ | 27,433 | $ | 15,330 | $ | 16,707 | $ | 311,599 | $ | 266,047 | |||||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of and for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||||||||||||||||||||||||||||||
Residential | Commercial | Consumer | Total | |||||||||||||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Charge-offs | (248 | ) | (203 | ) | (2,667 | ) | (3,118 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 38 | 62 | 313 | 413 | ||||||||||||||||||||||||||||||||||||
Provisions | 191 | (475 | ) | 2,534 | 2,250 | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 851 | $ | 2,517 | $ | 3,077 | $ | 6,445 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 521 | $ | — | $ | 521 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 851 | 1,996 | 3,077 | 5,924 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 851 | $ | 2,517 | $ | 3,077 | $ | 6,445 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,573 | $ | 4,529 | $ | 871 | $ | 12,973 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 272,256 | 230,999 | 310,728 | 813,983 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 279,829 | $ | 235,528 | $ | 311,599 | $ | 826,956 | ||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Charge-offs | (103 | ) | (1,300 | ) | (2,634 | ) | (4,037 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 123 | 409 | 547 | 1,079 | ||||||||||||||||||||||||||||||||||||
Provisions | (418 | ) | 581 | 1,787 | 1,950 | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 278 | $ | — | $ | 278 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 870 | 2,855 | 2,897 | 6,622 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,027 | $ | 12,758 | $ | 660 | $ | 20,445 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 265,592 | 187,660 | 265,387 | 718,639 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 272,619 | $ | 200,418 | $ | 266,047 | $ | 739,084 | ||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,365 | $ | 4,901 | $ | 2,666 | $ | 8,932 | ||||||||||||||||||||||||||||||||
Charge-offs | (379 | ) | (1,882 | ) | (2,476 | ) | (4,737 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 65 | 89 | 329 | 483 | ||||||||||||||||||||||||||||||||||||
Provisions | 217 | 335 | 2,678 | 3,230 | ||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 131 | $ | 1,235 | $ | — | $ | 1,366 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,137 | 2,208 | 3,197 | 6,542 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 9,135 | $ | 23,158 | $ | 577 | $ | 32,870 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 283,365 | 149,268 | 224,186 | 656,819 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 292,500 | $ | 172,426 | $ | 224,763 | $ | 689,689 | ||||||||||||||||||||||||||||||||
A loan is considered a TDR if the Company, for economic or legal reasons related to a debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Concessions granted under a TDR typically involve a temporary or permanent reduction in the interest rate at less than a current market rate of interest or an extension of a loan’s stated maturity date. Loans classified as TDRs are designated as impaired. | ||||||||||||||||||||||||||||||||||||||||
A summary of the Company’s loans classified as TDRs at December 31, 2013 and 2012 is presented below: | ||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
TDR | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | $ | 6,276 | $ | 6,892 | ||||||||||||||||||||||||||||||||||||
Commercial | 2,581 | 10,841 | ||||||||||||||||||||||||||||||||||||||
Consumer | 382 | 517 | ||||||||||||||||||||||||||||||||||||||
Total TDR | 9,239 | 18,250 | ||||||||||||||||||||||||||||||||||||||
Less: TDR in non-accrual status | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | 795 | 892 | ||||||||||||||||||||||||||||||||||||||
Commercial | 483 | 5,314 | ||||||||||||||||||||||||||||||||||||||
Consumer | 99 | — | ||||||||||||||||||||||||||||||||||||||
Total performing TDR | $ | 7,862 | $ | 12,044 | ||||||||||||||||||||||||||||||||||||
The Company may grant concessions through a number of different restructuring methods. The following table presents the outstanding principal balance of loans by class and by method of concession that were the subject of a TDR during the year ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
Residential | Commercial | Consumer | Total | |||||||||||||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | $ | — | $ | 355 | $ | 23 | $ | 378 | ||||||||||||||||||||||||||||||||
Loan maturity extension | — | — | 25 | 25 | ||||||||||||||||||||||||||||||||||||
Forbearance | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Principal reduction | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | $ | — | $ | 355 | $ | 48 | $ | 403 | ||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | $ | — | $ | — | $ | 222 | $ | 222 | ||||||||||||||||||||||||||||||||
Loan maturity extension | — | — | 37 | 37 | ||||||||||||||||||||||||||||||||||||
Forbearance | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Principal reduction | — | — | 21 | 21 | ||||||||||||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 280 | $ | 280 | ||||||||||||||||||||||||||||||||
The following table presents the number of loans modified and the balances before and after modification for the year ended December 31, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Commercial | 1 | 371 | 371 | |||||||||||||||||||||||||||||||||||||
Consumer | 3 | 59 | 59 | |||||||||||||||||||||||||||||||||||||
Total | 4 | $ | 430 | $ | 430 | |||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Commercial | — | — | — | |||||||||||||||||||||||||||||||||||||
Consumer | 18 | 292 | 290 | |||||||||||||||||||||||||||||||||||||
Total | 18 | $ | 292 | $ | 290 | |||||||||||||||||||||||||||||||||||
Included in the impaired loans as of December 31, 2013 and 2012 were TDRs of $9,239 and $18,250, respectively. The Company has allocated $72 and $0 of specific reserves to customers whose loan terms have been modified in TDRs as of December 31, 2013 and 2012, respectively. As of December 31, 2013 and 2012, no additional funds were committed to be advanced in connection with TDRs. | ||||||||||||||||||||||||||||||||||||||||
The Company’s other real estate owned and foreclosed assets represent properties and personal collateral acquired through customer loan defaults. The property is recorded at fair value less the estimated costs to sell at the date acquired. Any difference between the book value and estimated market value is recognized as a charge-off through the allowance for loan losses. Subsequently, should the fair market value of an asset, less the estimated cost to sell, decline to less than the carrying amount of the asset, the deficiency is recognized in the period in which it becomes known and is included in noninterest expense. | ||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company had balances in non-performing assets consisting of the following: | ||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Other real estate owned and foreclosed assets: | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | $ | 107 | $ | 819 | ||||||||||||||||||||||||||||||||||||
Commercial | 70 | 3,950 | ||||||||||||||||||||||||||||||||||||||
Consumer | 850 | 394 | ||||||||||||||||||||||||||||||||||||||
Total other real estate owned and foreclosed assets | 1,027 | 5,163 | ||||||||||||||||||||||||||||||||||||||
Total non-accrual loans | 4,344 | 7,858 | ||||||||||||||||||||||||||||||||||||||
Total non-performing assets | $ | 5,371 | $ | 13,021 | ||||||||||||||||||||||||||||||||||||
Non-performing loans/Total loans | 0.53 | % | 1.06 | % | ||||||||||||||||||||||||||||||||||||
Non-performing assets/Total assets | 0.39 | 1.04 | ||||||||||||||||||||||||||||||||||||||
Mortgage_Servicing_Rights_Note
Mortgage Servicing Rights (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Mortgage Servicing Rights [Abstract] | ' | |||||||||||
Mortgage Servicing Rights [Text Block] | ' | |||||||||||
NOTE 5 – Mortgage Servicing Rights | ||||||||||||
The Company originates one- to four-family residential real estate loans which are sold in the secondary market. The Company retains the servicing for residential real estate loans that are sold to the Federal National Mortgage Association (“Fannie Mae”). Residential real estate loans serviced for Fannie Mae are not included as assets on the consolidated balance sheets. | ||||||||||||
Following is an analysis of the changes in mortgage servicing rights for the years indicated: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Carrying value, before valuation allowance: | ||||||||||||
Balance, beginning of year | $ | 1,370 | $ | 1,379 | $ | 1,352 | ||||||
Additions | 445 | 410 | 351 | |||||||||
Amortization | (314 | ) | (419 | ) | (324 | ) | ||||||
Balance, end of year | 1,501 | 1,370 | 1,379 | |||||||||
Valuation allowance: | ||||||||||||
Balance, beginning of year | (361 | ) | (322 | ) | (110 | ) | ||||||
Impairment adjustment | 333 | (39 | ) | (212 | ) | |||||||
Balance, end of year | (28 | ) | (361 | ) | (322 | ) | ||||||
Carrying value of mortgage servicing rights | $ | 1,473 | $ | 1,009 | $ | 1,057 | ||||||
Fair value of mortgage servicing rights | $ | 1,473 | $ | 1,009 | $ | 1,057 | ||||||
Mortgage loans serviced | $ | 189,084 | $ | 157,953 | $ | 132,721 | ||||||
The amount of contractually specified servicing fees and other ancillary fees for one- to four-family residential loans was $463, $368, and $345 for the years ended December 31, 2013, 2012, and 2011, respectively. The servicing fees for one- to four-family residential loans are recorded in service charges and other fees on the consolidated statements of income. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||
NOTE 6 – Derivative Financial Instruments | ||||||||||||
The Company has entered into commitments with prospective residential mortgage borrowers to originate loans whereby the interest rate on the loan is determined prior to funding and the borrowers have locked into that interest rate. The interest rate lock commitments on loans originated for sale are recorded at fair value in accordance with ASC 815, “Derivatives and Hedging,” and are included in other assets in the consolidated balance sheets. The estimated fair values of the interest rate lock commitments are based on quoted secondary market pricing, include the fair value of the servicing rights based on the discounted present value of expected future cash flows, and assume an approximate closure rate based on recent historical experience. Changes in the fair value of interest rate lock commitments are recorded in current earnings as a component of net gains on sales of loans. | ||||||||||||
To manage the interest rate risk associated with interest rate lock commitments and mortgage loans held for sale, the Company may enter into forward loan sales commitments to deliver mortgage loan inventory to investors. The estimated fair values of forward loan sales commitments are based on quoted secondary market pricing. The fair values of the forward loan sales commitments are recorded as an other asset or an accrued liability in the consolidated balance sheets. Changes in the fair values of forward loan sales commitments are recorded in current earnings as a component of net gains on sales of loans. | ||||||||||||
The outstanding notional values and fair values of outstanding positions as of December 31, 2013 and 2012, and the recorded gains and losses during the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||
Outstanding Notional Balance | Fair Value | Recorded (Losses)/Gains | ||||||||||
(In thousands) | ||||||||||||
December 31, 2013: | ||||||||||||
Interest rate lock commitments | $ | 3,453 | $ | 56 | $ | (208 | ) | |||||
December 31, 2012: | ||||||||||||
Interest rate lock commitments | $ | 10,805 | $ | 264 | $ | 264 | ||||||
The Company had no forward loan sales commitments at December 31, 2013 or December 31, 2012. |
Premises_and_Equipment_Notes
Premises and Equipment (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Premises and Equipment Disclosure [Text Block] | ' | |||||||
NOTE 7 – Premises and Equipment | ||||||||
Premises and equipment were as follows at the dates indicated: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land | $ | 6,375 | $ | 6,699 | ||||
Buildings and improvements | 47,806 | 46,840 | ||||||
Furniture and equipment | 32,889 | 32,581 | ||||||
Leasehold improvements | 1,849 | 3,044 | ||||||
88,919 | 89,164 | |||||||
Accumulated amortization and depreciation | (47,407 | ) | (46,038 | ) | ||||
$ | 41,512 | $ | 43,126 | |||||
Depreciation and amortization charged to expense amounted to $3,315, $3,453, and $4,236 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||
At December 31, 2013, the Company had certain non-cancelable operating leases for premises with future minimum annual rental payments as follows: | ||||||||
2014 | $ | 595 | ||||||
2015 | 568 | |||||||
2016 | 480 | |||||||
2017 | 505 | |||||||
2018 | 500 | |||||||
Thereafter | 913 | |||||||
$ | 3,561 | |||||||
Rent expense was $634, $574, and $488 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||
The Company owns a 202,000 square-foot office building in Fort Worth, Texas that it uses for its administrative headquarters and certain bank operations. The Company occupies approximately 48,000 square feet of the building and leases the remaining space to various tenants. Gross rental income from these leases of $2,703, $2,553, and $2,660 was recognized for the years ended December 31, 2013, 2012, and 2011, respectively. At December 31, 2013, non-cancelable operating leases for the building with future minimum lease payments are as follows: | ||||||||
2014 | $ | 2,782 | ||||||
2015 | 2,354 | |||||||
2016 | 1,849 | |||||||
2017 | 1,122 | |||||||
2018 | 460 | |||||||
Thereafter | 514 | |||||||
$ | 9,081 | |||||||
Other_Real_Estate_Owned_and_Ot
Other Real Estate Owned and Other Foreclosed Assets | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Other Real Estate Owned [Abstract] | ' | |||||||||||
Real Estate Owned [Text Block] | ' | |||||||||||
NOTE 8 – Other Real Estate Owned and Other Foreclosed Assets | ||||||||||||
At December 31, 2013 and 2012, other real estate owned totaled $177 and $4,769, respectively, and other foreclosed assets totaled $850 and $394, respectively. Other foreclosed assets are included in other assets in the consolidated balance sheets. The changes in real estate owned and other foreclosed assets for the years ended December 31, 2013, 2012, and 2011 are as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other real estate owned: | ||||||||||||
Beginning balance | $ | 4,769 | $ | 6,683 | $ | 14,793 | ||||||
Assets transferred in | 184 | 1,958 | 3,038 | |||||||||
Net proceeds from sales | (4,573 | ) | (2,775 | ) | (8,230 | ) | ||||||
Net gain (loss) on sales | 24 | (94 | ) | (439 | ) | |||||||
Write-downs | (227 | ) | (1,003 | ) | (2,479 | ) | ||||||
Ending balance | $ | 177 | $ | 4,769 | $ | 6,683 | ||||||
Other foreclosed assets: | ||||||||||||
Beginning balance | $ | 394 | $ | 227 | $ | 207 | ||||||
Assets transferred in | 3,019 | 3,100 | 2,633 | |||||||||
Net proceeds from sales | (2,573 | ) | (2,921 | ) | (2,600 | ) | ||||||
Net gain (loss) on sales | 10 | (12 | ) | (13 | ) | |||||||
Ending balance | $ | 850 | $ | 394 | $ | 227 | ||||||
Deposits
Deposits | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Deposits [Abstract] | ' | |||||||||||
Deposit Liabilities Disclosures | ' | |||||||||||
NOTE 9 – Deposits | ||||||||||||
Deposits by major type consisted of the following at the dates indicated: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Noninterest-bearing demand | $ | 58,071 | $ | 47,331 | ||||||||
Interest-bearing demand | 146,818 | 139,976 | ||||||||||
Savings | 105,030 | 105,946 | ||||||||||
Money market | 233,918 | 229,537 | ||||||||||
Certificates of deposit | 269,737 | 293,512 | ||||||||||
Total deposits | $ | 813,574 | $ | 816,302 | ||||||||
At December 31, 2013 and 2012, overdrawn deposit accounts totaling $318 and $313, respectively, have been reclassified as loans on the consolidated balance sheets. | ||||||||||||
The following table summarizes the interest expense incurred on the deposits by major type for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest-bearing demand | $ | 100 | $ | 120 | $ | 142 | ||||||
Savings | 48 | 113 | 481 | |||||||||
Money market | 534 | 539 | 448 | |||||||||
Certificates of deposit | 4,389 | 5,509 | 6,285 | |||||||||
Total interest expense on deposits | $ | 5,071 | $ | 6,281 | $ | 7,356 | ||||||
Certificates of deposit in excess of $100 were $121,751 and $117,893 at December 31, 2013 and 2012, respectively. Generally, deposits greater than $250 are not federally insured. | ||||||||||||
The remaining maturity on certificates of deposit at December 31, 2013 is presented below: | ||||||||||||
2014 | $ | 142,518 | ||||||||||
2015 | 61,158 | |||||||||||
2016 | 29,802 | |||||||||||
2017 | 7,341 | |||||||||||
2018 | 28,918 | |||||||||||
Thereafter | — | |||||||||||
$ | 269,737 | |||||||||||
At December 31, 2013 and 2012, reciprocal deposits totaled $1,969 and $298, respectively. These deposits represent money market and time deposits from our customers that have been placed through Promontory Interfinancial Network’s Insured Cash Sweep® service and Certificate of Deposit Account Registry Service®. These services allow customers access to FDIC insurance on deposits exceeding the $250 FDIC insurance limit. |
Other_Secured_Borrowings
Other Secured Borrowings | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Other Secured Borrowings [Text Block] | ' | |||||||
NOTE 10 – Borrowed Funds | ||||||||
The Company has a line of credit with the FHLB of Dallas which allows it to borrow on a collateralized basis at a fixed term and overnight with pledged assignments. At December 31, 2013, advances from the FHLB of Dallas totaled $362,000 and had fixed interest rates ranging from 0.15% to 3.63% with a weighted-average rate of 0.80%. At December 31, 2012, advances from the FHLB of Dallas totaled $207,000 and had fixed interest rates ranging from 0.25% to 3.63% with a weighted-average rate of 1.14%. The borrowings are collateralized by a blanket floating lien on all first mortgage loans, mortgage-backed securities, the FHLB capital stock owned by the Company, and any funds on deposit with FHLB. The borrowing limit for term advances and overnight borrowings was $617,381 and $541,782 at December 31, 2013 and 2012, respectively. In addition, investment securities with a fair value of $161,553 and $28,745 were pledged to secure the advances at December 31, 2013 and 2012, respectively. | ||||||||
At December 31, 2013, the Company had FHLB advances outstanding which mature on the dates indicated as follows: | ||||||||
2014 | $ | 144,167 | ||||||
2015 | 156,167 | |||||||
2016 | 53,333 | |||||||
2017 | 8,333 | |||||||
2018 | — | |||||||
Thereafter | — | |||||||
$ | 362,000 | |||||||
Other borrowings consist of overnight borrowings from the FHLB. These borrowings have floating interest rates that may change daily at the discretion of the FHLB. There were no other borrowings outstanding at December 31, 2013. At December 31, 2012, we had $11,000 of other borrowings with an interest rate of 0.26%. | ||||||||
Beginning July 26, 2007, the Company entered into sales of securities under agreements to repurchase (“repurchase agreements”) with PNC Bank, N.A. (“PNC”). The repurchase agreements are structured as the sale of a specified amount of identified securities to PNC which the Company has agreed to repurchase five years after the initial sale. The underlying securities continue to be carried as assets of the Company and the Company is entitled to receive interest and principal payments on the underlying securities. The Company had $2,000 and $8,000, in repurchase agreements outstanding at December 31, 2013 and 2012, respectively. These repurchase agreements were secured by investment securities with a fair value of $2,192 and $8,990 at December 31, 2013 and 2012, respectively. | ||||||||
A $6,000 repurchase agreement matured in January 2013 and the remaining $2,000 repurchase agreement will mature in January 2015. | ||||||||
In 2009, the Company established a line of credit with the Federal Reserve Bank. As of December 31, 2013, $49,511 of commercial loans and $249,372 of consumer loans were pledged as collateral. At December 31, 2013, the available line of credit was $298,883. | ||||||||
Additionally, the Company maintained $55,000 in federal funds lines with other financial institutions at December 31, 2013. No amounts were outstanding at December 31, 2013. | ||||||||
Information relating to the FHLB advances, repurchase agreements, and other borrowings as of or for the years ended December 31, 2013 and 2012 is summarized as follows: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Ending Balance: | ||||||||
FHLB advances | $ | 362,000 | $ | 207,000 | ||||
Repurchase agreements | 2,000 | 8,000 | ||||||
Other borrowings | — | 11,000 | ||||||
Maximum Balance: | ||||||||
FHLB advances | 417,000 | 289,500 | ||||||
Repurchase agreements | 2,000 | 58,000 | ||||||
Other borrowings | 53,000 | 39,500 | ||||||
Average Balance: | ||||||||
FHLB advances | 296,721 | 255,388 | ||||||
Repurchase agreements | 2,214 | 36,279 | ||||||
Other borrowings | 10,307 | 6,273 | ||||||
Weighted-average interest rate: | ||||||||
During the period: | ||||||||
FHLB advances | 0.84 | % | 1.08 | % | ||||
Repurchase agreements | 2.89 | % | 4.92 | % | ||||
Other borrowings | 0.15 | % | 0.18 | % | ||||
End of period: | ||||||||
FHLB advances | 0.8 | % | 1.14 | % | ||||
Repurchase agreements | 2.82 | % | 3.08 | % | ||||
Other borrowings | — | % | 0.26 | % |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Employee Benefits and Share-based Compensation [Abstract] | ' | |||||||||||||
Employee Benefit Plans | ' | |||||||||||||
NOTE 11 – Employee Benefit Plans | ||||||||||||||
Pension Plan | ||||||||||||||
The Company sponsors a defined benefit pension plan (the “Pension Plan”) for the benefit of its employees. The Pension Plan originally called for benefits to be paid to eligible employees at retirement based primarily upon years of service with the Company and compensation levels at retirement. On November 15, 2006, the Company announced that it would freeze benefits under the Pension Plan effective December 31, 2006, so that no further benefits will be earned by employees after that date. In addition, no new participants may be added to the Pension Plan after December 31, 2006. | ||||||||||||||
Changes in the plan benefit obligation using a December 31 measurement date for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Projected benefit obligation as of January 1, | $ | 5,513 | $ | 5,415 | ||||||||||
Interest cost | 227 | 256 | ||||||||||||
Actuarial (gain) loss | (1,034 | ) | 497 | |||||||||||
Benefits paid | (216 | ) | (3 | ) | ||||||||||
Effect of settlement | — | (652 | ) | |||||||||||
Projected benefit obligation at December 31, | $ | 4,490 | $ | 5,513 | ||||||||||
Accumulated benefit obligation at December 31, | $ | 4,490 | $ | 5,513 | ||||||||||
Changes in plan assets for the years ended December 31, 2013 and 2012 were as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Fair value of plan assets as of January 1, | $ | 3,765 | $ | 3,186 | ||||||||||
Actual return on plan assets | 1,011 | 500 | ||||||||||||
Employer contributions | — | 734 | ||||||||||||
Benefits paid | (216 | ) | (3 | ) | ||||||||||
Effect of settlement | — | (652 | ) | |||||||||||
Fair value of plan assets as of December 31, | $ | 4,560 | $ | 3,765 | ||||||||||
Funded status as of December 31, | $ | 70 | $ | (1,748 | ) | |||||||||
The funded status is recognized in other assets at December 31, 2013 and accrued expenses and other liabilities at December 31, 2012 in the consolidated balance sheets. | ||||||||||||||
The net periodic pension cost for the years ended December 31, 2013, 2012, and 2011 includes the following components: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Interest cost on projected benefit obligation | $ | 227 | $ | 256 | $ | 250 | ||||||||
Expected return on assets | (296 | ) | (247 | ) | (251 | ) | ||||||||
Amortization of net loss | 193 | 132 | 65 | |||||||||||
Effect of settlement recognition | — | 351 | 178 | |||||||||||
Net periodic pension cost | $ | 124 | $ | 492 | $ | 242 | ||||||||
Amounts related to the Pension Plan recognized as a component of other comprehensive income (loss) were as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net actuarial gain (loss) | $ | 1,748 | $ | (244 | ) | $ | (1,649 | ) | ||||||
Amortization of net loss | 193 | 132 | 65 | |||||||||||
Effect of settlement recognition | — | 351 | 178 | |||||||||||
Total recognized in other comprehensive income (loss) | 1,941 | 239 | (1,406 | ) | ||||||||||
Deferred tax (expense) benefit | (660 | ) | (81 | ) | 478 | |||||||||
Other comprehensive income (loss), net of tax | $ | 1,281 | $ | 158 | $ | (928 | ) | |||||||
Amounts recognized as a component of accumulated other comprehensive income (loss) as of year-end that have not been recognized as a component of the combined net period benefit cost of the Pension Plan are presented in the following table. The Company expects to recognize approximately $46 of the net loss reported in the following table as of December 31, 2013 as a component of the net periodic benefit cost during 2014. | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Net gain (loss) | $ | (1,025 | ) | $ | (2,967 | ) | ||||||||
Deferred tax (expense) benefit | 348 | 1,009 | ||||||||||||
Amounts included in other comprehensive loss, net of tax | $ | (677 | ) | $ | (1,958 | ) | ||||||||
Assumptions used in accounting for the Pension Plan are as follows: | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted-average assumptions used to determine benefit obligation | ||||||||||||||
Discount rate | 5.25 | % | 4.25 | % | 4.75 | % | ||||||||
Rate of increase in future compensation | — | % | — | % | — | % | ||||||||
Weighted-average assumptions used to determine net periodic benefit cost | ||||||||||||||
Discount rate | 4.25 | % | 4.75 | % | 6 | % | ||||||||
Expected long-term rate of return on assets | 8.5 | % | 8 | % | 7.5 | % | ||||||||
Rate of increase in future compensation | — | % | — | % | — | % | ||||||||
Historical and future expected returns of multiple asset classes were analyzed to develop a risk-free real rate of return and risk premiums for each asset class. The overall rate for each asset class was developed by combining a long-term inflation component, the risk-free real rate of return, and the associated risk premium. A weighted-average rate was developed based on those overall rates and the target asset allocation of the plan. | ||||||||||||||
The Company’s current Pension Plan target allocations and the weighted-average asset allocations as of December 31, 2013 and 2012 by asset category are as follows: | ||||||||||||||
Target | Actual Allocations | |||||||||||||
Allocations | 2013 | 2012 | ||||||||||||
Equity securities | 80 | % | 84 | % | 81 | % | ||||||||
Debt securities | 20 | % | 16 | % | 19 | % | ||||||||
100 | % | 100 | % | 100 | % | |||||||||
The assets of the Pension Plan are invested in domestic and international equity securities, fixed income securities, and real estate securities funds. The plan’s investment policy includes guidelines and procedures designed to ensure assets are invested in a manner necessary to meet expected future benefits earned by participants. The investment guidelines consider a broad range of economic conditions. The objective is to maintain investment portfolios that limit risk through prudent asset allocation parameters, achieve asset returns that meet or exceed the plan’s actuarial assumptions, and achieve asset returns that are competitive with like institutions employing similar investment strategies. The Company periodically reviews the investment policy. The policy is established and administered in a manner so as to comply at all times with applicable government regulations. | ||||||||||||||
The major categories of assets in the Pension Plan as of December 31, 2013 and 2012 are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820, “Fair Value Measurements and Disclosures,” utilized to measure fair value (see Note 15 — Fair Value Measurements). | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Level 1: | ||||||||||||||
Mutual funds | $ | 3,459 | $ | 2,143 | ||||||||||
Level 2: | ||||||||||||||
Pooled separate accounts | 1,101 | 1,622 | ||||||||||||
Total assets at fair value | $ | 4,560 | $ | 3,765 | ||||||||||
The Company did not make any contributions to the Pension Plan during the year ended December 31, 2013 and contributed $734 to the Pension Plan during the year ended December 31, 2012. The Company does not expect to make additional contributions to the plan in fiscal year 2014. | ||||||||||||||
As of December 31, 2013, the Pension Plan benefit payments were expected to be paid as follows: | ||||||||||||||
Year ended December 31, | ||||||||||||||
2014 | $ | 610 | ||||||||||||
2015 | 110 | |||||||||||||
2016 | 100 | |||||||||||||
2017 | 84 | |||||||||||||
2018 | 280 | |||||||||||||
Years 2019 - 2023 | 1,360 | |||||||||||||
Share-Based Compensation | ||||||||||||||
At its annual meeting held May 24, 2011, the Company’s stockholders approved the OmniAmerican Bancorp, Inc. 2011 Equity Incentive Plan (the “Plan”) which provides for the grant of stock-based and other incentive awards to officers, employees and directors of the Company. The Plan provides the board or a committee thereof with the flexibility to award no less than half the eligible awards, constituting 7% of the shares issued in the Company’s initial public offering, in the form of stock options and up to 7% of the shares issued in the initial public offering in the form of restricted stock. By resolution of the board of directors, the board confirmed that restricted stock awards will not exceed 4% of the common stock sold in the Company’s initial public offering. Pursuant to board resolution, 1,190,250 options to purchase shares of common stock and 476,100 restricted shares of common stock were made available. | ||||||||||||||
Share-based compensation expense for the years ended December 31, 2013, 2012 and 2011 was $1,827, $1,331, and $308, respectively. | ||||||||||||||
Restricted Stock | ||||||||||||||
Compensation expense for restricted stock is recognized over the vesting period of the awards based on the fair value of the stock at grant date, which is determined using the last sale price as quoted on the NASDAQ Stock Market. Shares awarded to employees vest at a rate of 20% of the initially awarded amount per year, beginning on the first anniversary date of the award, and are contingent upon continuous service by the recipient through the vesting date. Shares awarded to directors vest at a rate of 20% to 33% of the initially awarded amount per year, beginning on the first anniversary date of the award, and are contingent upon continuous service by the recipient through the vesting date. Under the terms of the Plan, awarded shares are restricted as to transferability and may not be sold, assigned, or transferred prior to vesting. The vesting period is subject to acceleration of vesting upon a change in control of the Company or upon the termination of the award recipient’s service due to death or disability. Total restricted shares issuable pursuant to board resolution are 476,100 at December 31, 2013, of which 295,538 shares had been issued under the Plan through December 31, 2013. | ||||||||||||||
A summary of changes in the Company’s nonvested restricted shares for the years ended December 31, 2013 and 2012 follows: | ||||||||||||||
2013 | 2012 | |||||||||||||
Shares | Weighted- | Shares | Weighted- | |||||||||||
Average Grant | Average Grant | |||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||
Per Share | Per Share | |||||||||||||
Non-vested at January 1, | 254,323 | $ | 18.69 | 118,738 | $ | 14.15 | ||||||||
Granted | 11,000 | 22.81 | 165,800 | 21.11 | ||||||||||
Vested | (62,608 | ) | 17.84 | (29,612 | ) | 14.15 | ||||||||
Forfeited | (23,132 | ) | 19.19 | (603 | ) | 14.15 | ||||||||
Non-vested at December 31, | 179,583 | $ | 19.18 | 254,323 | $ | 18.69 | ||||||||
As of December 31, 2013, the Company had $2,665 of unrecognized compensation expense related to non-vested shares of restricted stock awarded under the Plan. The unrecognized compensation expense is expected to be recognized over a weighted-average period of 3.35 years. At the grant date, the Company applied an estimated forfeiture rate of 8.40% to officers’ and employees’ shares and 0.00% to directors’ shares based on the historical turnover rates. | ||||||||||||||
Stock Options | ||||||||||||||
Under the terms of the Plan, stock options may not be granted with an exercise price less than the fair market value of the Company’s common stock on the date the option is granted and may not be exercised later than 10 years after the grant date. The fair market value is the last sale price as quoted on the NASDAQ Stock Market on the date of grant. All stock options granted must vest over at least three and not over five years, subject to acceleration of vesting upon a change in control, death or disability. | ||||||||||||||
The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model that uses the assumptions noted in the table below. The risk-free interest rate is the implied yield available on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term of the stock option in effect at the time of the grant. Although the contractual term of the stock options granted is 10 years, the expected term of the stock options is less because option restrictions do not permit recipients to sell or hedge their options. Management believes these restrictions encourage exercise of the option before the end of the contractual term. The Company does not have sufficient historical information about its own employees’ vesting behavior; therefore, the expected term of stock options is estimated using the average of the vesting period and contractual term. The Company does not have sufficient historical information about its own stock volatility; therefore, the expected volatility is based on an average volatility of peer banks. | ||||||||||||||
There were no stock options granted during the year ended December 31, 2013. The weighted-average fair value of each stock option granted during the year ended December 31, 2012 was $8.58. The fair value of options granted was determined using the following weighted-average assumptions as of grant date: | ||||||||||||||
2012 | ||||||||||||||
Risk-free interest rate | 1.13 | % | ||||||||||||
Expected term of stock options (years)—for officers and employees | 7.5 | |||||||||||||
Expected term of stock options (years)—for Directors | 7.5 | |||||||||||||
Expected stock price volatility | 36.72 | % | ||||||||||||
Expected dividends | — | % | ||||||||||||
Forfeiture rate—for officers and employees | 17.84 | % | ||||||||||||
Forfeiture rate—for Directors | — | % | ||||||||||||
A summary of activity in the stock option portion of the Plan for the years ended December 31, 2013 and 2012 follows: | ||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding at January 1, 2012 | 373,552 | $ | 14.15 | 9.46 | $ | 579 | ||||||||
Granted | 152,200 | 20.86 | 9.53 | 346 | ||||||||||
Exercised | (9,873 | ) | 14.15 | — | (62 | ) | ||||||||
Forfeited | (10,214 | ) | 16.18 | — | (71 | ) | ||||||||
Outstanding at December 31, 2012 | 505,665 | $ | 16.13 | 9.46 | 579 | |||||||||
Granted | — | — | — | — | ||||||||||
Exercised | (38,997 | ) | 14.15 | — | (341 | ) | ||||||||
Forfeited | (68,557 | ) | 17.29 | — | (280 | ) | ||||||||
Expired | (3,178 | ) | 14.97 | — | (20 | ) | ||||||||
Outstanding at December 31, 2013 | 394,933 | $ | 16.13 | 7.54 | $ | 2,088 | ||||||||
Fully vested and expected to vest | 368,573 | $ | 16.1 | 7.52 | $ | 1,961 | ||||||||
Exercisable at December 31, 2013 | 139,135 | $ | 15.45 | 7.02 | $ | 830 | ||||||||
As of December 31, 2013, the Company had $1,265 of total unrecognized compensation expense related to non-vested stock options. That expense is expected to be recognized over a weighted-average period of 2.89 years. The intrinsic value for stock options is calculated based on the difference between the exercise price of the underlying awards and the market price of our common stock as of December 31, 2013. | ||||||||||||||
401(k) Plan | ||||||||||||||
The Company also has a discretionary defined contribution savings plan (the “Savings Plan”). The Savings Plan is qualified under Sections 401 and 401(k) of the Internal Revenue Code and allows employees to contribute a portion of their salary on a pretax basis into the Savings Plan. The Company matches a portion of employees’ contributions. Matching contributions made by the Company are accrued and funded on a current basis. During the years ended December 31, 2013, 2012, and 2011, the Company contributed approximately $612, $575, and $557 to the Savings Plan, respectively, which is included in salaries and benefits expense in the accompanying consolidated statements of income. | ||||||||||||||
Employee Stock Ownership Plan | ||||||||||||||
OmniAmerican Bank adopted the ESOP effective January 1, 2010. The ESOP enables all eligible employees of the Bank to share in the growth of the Company through the acquisition of stock. Employees are generally eligible to participate in the ESOP after completion of one year of service and attaining age 21. | ||||||||||||||
The ESOP purchased 8% of the shares offered in the initial public offering of the Company (952,200 shares). This purchase was facilitated by a note payable to the Company from the ESOP in the amount of $9,522. The note is secured by a pledge of the ESOP shares. The shares pledged as collateral are reported as unallocated ESOP shares in the accompanying consolidated balance sheets. The corresponding note is to be paid back in 25 approximately equal annual payments of $561 on the last day of each fiscal year, beginning December 31, 2010, including interest at an adjustable rate equal to the Wall Street Journal prime rate (3.25% as of December 31, 2013 and 2012). The note payable and the corresponding note receivable have been eliminated for consolidation purposes. | ||||||||||||||
The Company may make discretionary contributions to the ESOP in the form of debt service. Dividends received on the unallocated ESOP shares are utilized to service the debt. Shares are released for allocation to plan participants based on principal and interest payments of the note. Compensation expense is recognized based on the number of shares allocated to plan participants each year and the average market price of the stock for the current year. Released ESOP shares become outstanding for earnings per share computations. | ||||||||||||||
As compensation expense is incurred, the unallocated ESOP shares account is reduced based on the original cost of the stock. The difference between the cost and average market price of shares released for allocation is applied to additional paid-in capital. Compensation expense recognized from the release of shares from the ESOP was $893, $792, and $567 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||
At December 31, 2013 and 2012, the ESOP shares were as follows: | ||||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Allocated shares | 152,352 | 114,264 | ||||||||||||
Unearned shares | 799,848 | 837,936 | ||||||||||||
Total ESOP shares | 952,200 | 952,200 | ||||||||||||
Fair value of unearned shares | $ | 17,101 | $ | 19,381 | ||||||||||
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Regulatory Matters [Abstract] | ' | ||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||
NOTE 12 – Regulatory Matters | |||||||||||||||||||||
The Company is subject to regulation and examination. Until July 21, 2011, the Company and the Bank were regulated by the Office of Thrift Supervision. As of July 21, 2011, the Company’s primary federal regulator is the Federal Reserve Board, and the Bank’s primary federal regulator is the Office of the Comptroller of the Currency. The Federal Deposit Insurance Corporation also has regulatory and examination authority with respect to the Bank. The deposits of the Bank are insured by the Federal Deposit Insurance Corporation. | |||||||||||||||||||||
The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Bank regulatory authorities have established risk-based capital guidelines for U.S. banking organizations. The objective of these efforts is to provide a more consistent system for comparing capital positions of banking organizations and to reflect the level of risk associated with holding various categories of assets. The guidelines define tier 1 capital and tier 2 capital. The components of tier 1 capital for the Company include stockholders’ equity excluding unrealized gains and losses on available for sale securities and other intangible assets. Tier 2 capital includes a portion of the allowance for loan losses. These two components combine to become Total Capital. The guidelines also stipulate that four categories of risk weights (0, 20, 50 and 100%), primarily based on the relative credit risk of the counterparty, be applied to the different types of balance sheet assets. Risk weights for all off-balance sheet exposures are determined by a two-step process, wherein the face value of the off-balance sheet item is converted to a “credit equivalent amount” and that amount is assigned to the appropriate risk category. Off-balance sheet items at December 31, 2013 and 2012 included unfunded loan commitments and letters of credit. The minimum ratio for qualifying Total Capital is 8.0%, of which 4.0% must be tier 1 capital. | |||||||||||||||||||||
In addition to the minimum guidelines stated above, the regulatory authorities have established minimums for an institution to be classified as “well capitalized.” A financial institution is deemed to be well capitalized if the institution has a total risk-based capital ratio of 10.0% or greater, a tier 1 risk-based capital ratio of 6.0% or greater and a tier 1 leverage ratio of 5.0% or greater and the institution is not subject to an order, written agreement, capital directive or prompt corrective action directive to meet and maintain a specific capital level for any capital measure. | |||||||||||||||||||||
The table below presents the capital required as a percentage of total and risk-weighted assets and the percentage and the total amount of capital maintained for the Company and the Bank at December 31, 2013 and 2012 without giving effect to the final Basel III capital rules adopted by the Federal Reserve Board on July 2, 2013 and by the Office of the Comptroller of the Currency on July 9, 2013: | |||||||||||||||||||||
Actual | Minimum | Minimum | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Actions Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
Consolidated as of December 31, 2013 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 213,553 | 23.41 | % | $ | 72,948 | 8 | % | $ | 91,185 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 206,662 | 22.66 | % | 36,474 | 4 | % | 54,711 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 206,662 | 14.86 | % | 55,633 | 4 | % | 69,542 | 5 | % | ||||||||||||
OmniAmerican Bank as of December 31, 2013 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 196,115 | 21.5 | % | $ | 72,957 | 8 | % | $ | 91,197 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 189,224 | 20.75 | % | 36,479 | 4 | % | 54,718 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 189,224 | 13.6 | % | 55,638 | 4 | % | 69,548 | 5 | % | ||||||||||||
Consolidated as of December 31, 2012 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 203,734 | 25.47 | % | $ | 63,997 | 8 | % | $ | 79,996 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 196,435 | 24.56 | % | 31,998 | 4 | % | 47,998 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 196,435 | 15.67 | % | 50,140 | 4 | % | 62,674 | 5 | % | ||||||||||||
OmniAmerican Bank as of December 31, 2012 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 185,856 | 23.23 | % | $ | 64,003 | 8 | % | $ | 80,004 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 178,557 | 22.32 | % | 32,002 | 4 | % | 48,002 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 178,557 | 14.24 | % | 50,143 | 4 | % | 62,678 | 5 | % | ||||||||||||
Management continues to evaluate the final Basel III capital rules and their impact, which rules will apply beginning in reporting periods after January 1, 2015. | |||||||||||||||||||||
The Home Owners’ Loan Act (“HOLA”), as amended, requires savings institutions to meet a Qualified Thrift Lender (“QTL”) test. The QTL test requires at least 65% of assets be maintained in housing-related finance and other specified areas. An institution must be in compliance with the QTL test on a monthly basis in nine out of every 12 months. If this requirement is not met, limits are placed on growth, branching, new investments, FHLB advances, and dividends or the Company must convert to a commercial bank charter. At December 31, 2013 and 2012, QTL was calculated as 80.6% and 83.5% respectively, and the Company has met the test in each month of the years ended December 31, 2013 and 2012. | |||||||||||||||||||||
The following is a reconciliation of the Company’s equity under accounting principles generally accepted in the United States to regulatory capital (as defined by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation) as of December 31, 2013 and 2012: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Consolidated GAAP equity | $ | 207,142 | $ | 205,578 | |||||||||||||||||
Consolidated equity in excess of Bank equity | (17,438 | ) | (17,878 | ) | |||||||||||||||||
Bank GAAP equity | 189,704 | 187,700 | |||||||||||||||||||
Deferred tax assets disallowed for regulatory capital | (2,764 | ) | (3,760 | ) | |||||||||||||||||
Unrealized loss (gain) on securities available for sale | 1,754 | (7,240 | ) | ||||||||||||||||||
Unrealized loss on pension plan | 677 | 1,958 | |||||||||||||||||||
Disallowed servicing asset | (147 | ) | (101 | ) | |||||||||||||||||
Tier I capital | 189,224 | 178,557 | |||||||||||||||||||
General allowance for loan losses | 6,445 | 6,900 | |||||||||||||||||||
Reserve for unfunded loan commitments | 446 | 278 | |||||||||||||||||||
Unrealized gains on equity securities | — | 121 | |||||||||||||||||||
Total regulatory capital | $ | 196,115 | $ | 185,856 | |||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||||
NOTE 13 – Income Taxes | ||||||||||||
The Company’s pretax income is subject to federal income taxes at a combined rate of 34% for the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
The current and deferred portions of net income tax expense included in the consolidated statements of income are presented below for the years ended December 31, 2013, 2012, and 2011: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | 2,279 | $ | 1,338 | $ | 164 | ||||||
State | 51 | 46 | 16 | |||||||||
Total current taxes | 2,330 | 1,384 | 180 | |||||||||
Deferred | ||||||||||||
Federal | 996 | 1,494 | 1,664 | |||||||||
State | — | — | — | |||||||||
Total deferred taxes | 996 | 1,494 | 1,664 | |||||||||
Total income taxes | $ | 3,326 | $ | 2,878 | $ | 1,844 | ||||||
During the years ended December 31, 2013 and 2012, the Company did not incur any interest or penalties on income taxes. The Company will record interest and penalties on income taxes, if any, when they are incurred in noninterest expense. | ||||||||||||
At December 31, 2013 and 2012, the net deferred tax asset consisted of the following: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Allowance for loan losses | $ | 1,719 | $ | 1,873 | ||||||||
Premises and equipment | — | 361 | ||||||||||
Securities available for sale | 954 | — | ||||||||||
Pension plan | 996 | 1,610 | ||||||||||
Other real estate owned | 10 | 381 | ||||||||||
Interest on non-accrual loans | 169 | 373 | ||||||||||
Accrued expenses | 351 | 200 | ||||||||||
Deferred loan fees | 230 | 222 | ||||||||||
Stock-based compensation | 323 | 242 | ||||||||||
4,752 | 5,262 | |||||||||||
Deferred tax liabilities: | ||||||||||||
Servicing rights | (501 | ) | (343 | ) | ||||||||
Securities available for sale | — | (3,730 | ) | |||||||||
FHLB stock | (63 | ) | (51 | ) | ||||||||
Premises and equipment | (33 | ) | — | |||||||||
Other | (89 | ) | (99 | ) | ||||||||
(686 | ) | (4,223 | ) | |||||||||
Net deferred tax asset | $ | 4,066 | $ | 1,039 | ||||||||
No valuation allowance has been provided on deferred tax assets as of December 31, 2013 and 2012. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers taxes paid in prior carryback years, the projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will realize all benefits related to these deductible temporary differences. | ||||||||||||
A reconciliation of the tax provision at the statutory rate of 34% of pretax income to the provision for taxes as shown in the accompanying consolidated statements of income for the years ended December 31, 2013, 2012, and 2011 is as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate times financial statement income | $ | 3,316 | $ | 2,916 | $ | 1,976 | ||||||
Effect of: | ||||||||||||
State taxes, net of federal benefit | 34 | 30 | 10 | |||||||||
Nontaxable income | (485 | ) | (397 | ) | (319 | ) | ||||||
Non-deductible expenses | 461 | 329 | 177 | |||||||||
Total income tax expense | $ | 3,326 | $ | 2,878 | $ | 1,844 | ||||||
Effective tax rate | 34.1 | % | 33.6 | % | 31.7 | % | ||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Related Party Transactions [Abstract] | ' | |||
Related Party Transactions Disclosure [Text Block] | ' | |||
NOTE 14 – Related Party Transactions | ||||
The Company has made loans in the ordinary course of business to certain of its executive officers, directors and their affiliates. All loans included in such transactions are made on substantially the same terms, including interest rate and collateral, as those prevailing at the time for comparable transactions with other persons and all loans are current as to principal and interest payments. Loans to executive officers, directors, and their affiliates were as follows for the year ended December 31, 2013: | ||||
Balance at beginning of year | $ | 1,940 | ||
New loans | — | |||
Repayments | (547 | ) | ||
Balance at end of year | $ | 1,393 | ||
Deposits from executive officers, directors, and their affiliates were $1,106 and $1,018 at December 31, 2013 and 2012, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
NOTE 15 – Fair Value Measurements | ||||||||||||||||
ASC Topic 820, “Fair Value Measurements and Disclosures,” establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: | ||||||||||||||||
• | Level 1 Inputs—Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | |||||||||||||||
• | Level 2 Inputs—Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. | |||||||||||||||
• | Level 3 Inputs—Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | |||||||||||||||
A description of the valuation methodologies used for assets measured at fair value on a recurring basis, as well as the general classification of such assets pursuant to the fair value hierarchy, is set forth below. | ||||||||||||||||
Securities available for sale: The fair values of securities available for sale is determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs). When quoted market prices in active markets are unavailable, the Company determines fair values based on independent external valuation information obtained from independent pricing services, which utilizes various models and valuation techniques based on a range of inputs including pricing models, quoted market prices of publicly traded securities with similar duration and yield, time value, yield curve, prepayment speeds, default rates and discounted cash flows. In most cases, these estimates are determined based on independent third-party valuation information, and the amounts are disclosed as Level 2 or Level 3 of the fair value hierarchy depending on the level of observable market inputs. Additional pricing services are used as a comparison to ensure that realistic fair values are used in pricing the investment portfolio. | ||||||||||||||||
Interest rate lock commitments: Interest rate locks on commitments to originate loans for the held for sale portfolio are reported at fair value in other assets on the consolidated balance sheets with changes in value recorded in current earnings. The estimated fair values of the interest rate lock commitments are based on quoted secondary market pricing, include the fair value of the servicing rights based on the discounted present value of expected future cash flows, and assume an approximate closure rate based on recent historical experience. At December 31, 2013, the fair value of the servicing rights was estimated as 1.00% of the loan balance for loans with terms of 180 months, and for loans with terms greater than 180 months, the fair value was estimated as 1.31% of the loan balance if the loan had an interest rate of 4.50% or lower and 1.08% of the loan balance if the loan had an interest rate higher than 4.50%. At December 31, 2012, the fair value of the servicing rights was estimated as 0.82% of the loan balance for loans with a term of 360 months and 0.84% of the loan balance for loans with a term of 180 months. A significant change in the closure rate may result in a significant change in the ending fair value measurement of these derivatives relative to their total fair value. At December 31, 2013 and 2012, the estimated closure rate based on historical experience over the preceding two-year period was 77.1% and 72.1%, respectively. Because the closure rate and fair value of servicing rights are significant unobservable assumptions, interest rate lock commitments are included in Level 3 of the hierarchy. | ||||||||||||||||
There were no liabilities measured at fair value on a recurring basis at December 31, 2013 or 2012. The assets measured at fair value on a recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at December 31, 2013, Using | Total Fair Value at | |||||||||||||||
Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | December 31, 2013 | |||||||||||||
Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. Government-sponsored mortgage-backed securities | $ | — | $ | 279,588 | $ | — | $ | 279,588 | ||||||||
U.S. Government-sponsored collateralized mortgage obligations | — | 140,576 | — | 140,576 | ||||||||||||
Agency bonds | — | 4,538 | — | 4,538 | ||||||||||||
Municipal obligations | — | 170 | — | 170 | ||||||||||||
Other equity securities | — | 5,903 | — | 5,903 | ||||||||||||
Interest rate lock commitments | — | — | 56 | 56 | ||||||||||||
Fair Value Measurements at December 31, 2012, Using | Total Fair Value at | |||||||||||||||
Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | December 31, 2012 | |||||||||||||
Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. Government-sponsored mortgage-backed securities | $ | — | $ | 199,730 | $ | — | $ | 199,730 | ||||||||
U.S. Government-sponsored collateralized mortgage obligations | — | 172,896 | — | 172,896 | ||||||||||||
Agency bonds | — | 5,015 | — | 5,015 | ||||||||||||
Other equity securities | — | 6,268 | — | 6,268 | ||||||||||||
Interest rate lock commitments | — | — | 264 | 264 | ||||||||||||
A reconciliation and income statement classification of gains and losses for the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2013 and 2012 has not been provided since the amounts are not significant. | ||||||||||||||||
In accordance with ASC Topic 820, certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets or liabilities required to be measured at fair value on a nonrecurring basis include impaired loans and mortgage servicing rights. Nonfinancial assets or liabilities required to be measured at fair value on a nonrecurring basis include other real estate owned. | ||||||||||||||||
Impaired loans (loans which are not expected to repay all principal and interest amounts due in accordance with the original contractual terms) are measured at an observable market price (if available) or at the fair value of the loan’s collateral (if collateral dependent). Fair value of the loan’s collateral is determined by appraisals or independent valuation which is then adjusted for the estimated costs related to liquidation of the collateral. Management’s ongoing review of appraisal information may result in additional discounts or adjustments to valuation based upon more recent market sales activity or more current appraisal information derived from properties of similar type and/or locale. A significant portion of the Company’s impaired loans are measured using the estimated fair market value of the collateral less the estimated costs to sell. Therefore, the Company has categorized its impaired loans as Level 3. | ||||||||||||||||
The following table presents impaired loans that were remeasured and reported at fair value through a specific reserve of the allowance for loan losses based upon the fair value of the underlying collateral during the year ended December 31, 2013 and 2012. | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying value of impaired loans | $ | 1,591 | $ | 981 | ||||||||||||
Specific reserve | (521 | ) | (278 | ) | ||||||||||||
Fair Value | $ | 1,070 | $ | 703 | ||||||||||||
Mortgage servicing rights are carried at the lower of amortized cost or estimated fair value. The estimated fair values of mortgage servicing rights are obtained through independent third-party valuations through an analysis of cash flows, incorporating estimates of assumptions market participants would use in determining fair value, including market discount rates, prepayment speeds, servicing income, servicing costs, default rates and other market-driven data, including the market’s perception of future interest rate movements and, as such, are classified as Level 3. At December 31, 2013 and 2012 the Company’s mortgage servicing rights were recorded at $1,473 and $1,009, respectively. | ||||||||||||||||
Non-financial assets measured at fair value on a non-recurring basis are limited to other real estate owned. Other real estate owned is carried at fair value less estimated selling costs (as determined by independent appraisal) within Level 3 of the fair value hierarchy. At the time of foreclosure, the value of the underlying loan is written down to the fair value of the real estate to be acquired by a charge to the allowance for loan losses, if necessary. The fair value is reviewed periodically and subsequent write downs are recorded accordingly. | ||||||||||||||||
The following table represents other real estate that was remeasured and reported at fair value as of December 31, 2013 and 2012: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying value of other real estate owned prior to remeasurement | $ | 1,631 | $ | 7,571 | ||||||||||||
Less: Charge-offs recognized in the allowance for loan losses at initial acquisition | (18 | ) | (244 | ) | ||||||||||||
Add: Fair value adjustments recognized in noninterest income at initial acquisition | 43 | — | ||||||||||||||
Less: Subsequent write-downs included in net loss on write-down of other real estate owned | (227 | ) | (1,065 | ) | ||||||||||||
Less: Sales of other real estate owned | (1,252 | ) | (1,493 | ) | ||||||||||||
Carrying value of remeasured other real estate owned at end of period | $ | 177 | $ | 4,769 | ||||||||||||
Significant unobservable inputs used in Level 3 fair value measurements for financial assets measured at fair value on a non-recurring basis at December 31, 2013 and 2012, are summarized below: | ||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||
(Average) | ||||||||||||||||
December 31, 2013: | ||||||||||||||||
Impaired loans, net of allowance | $ | 840 | Discounted Cash Flow Analysis | Interest rate | 1.5% - 7.0% (4.9%) | |||||||||||
Loan term (in months) | 60 - 120 (91) | |||||||||||||||
$ | 230 | Third-Party Appraisal | Discount of market value | 0% (0%) | ||||||||||||
Estimated marketing costs | 6.0% (6.0%) | |||||||||||||||
Estimated property maintenance | 3.6% (3.6%) | |||||||||||||||
Mortgage servicing rights | $ | 1,473 | Discounted Cash Flow Analysis | Interest rate | 2.6% - 7.9% (4.3%) | |||||||||||
Loan term (in months) | 82 - 527 (312) | |||||||||||||||
Other real estate owned | $ | 177 | Third-Party Appraisal | Discount of market value | 0% (0%) | |||||||||||
Estimated marketing costs | 0.0% - 6.0% (2.4%) | |||||||||||||||
Estimated property maintenance | 0% (0%) | |||||||||||||||
December 31, 2012: | ||||||||||||||||
Impaired loans, net of allowance | $ | 703 | Discounted Cash Flow Analysis | Interest rate | 6.3% - 7.0% (6.5%) | |||||||||||
Loan term (in months) | 60 - 85 (76) | |||||||||||||||
Mortgage servicing rights | $ | 1,009 | Discounted Cash Flow Analysis | Interest rate | 2.0% - 8.1% (4.6%) | |||||||||||
Loan term (in months) | 72 - 458 (323) | |||||||||||||||
Other real estate owned | $ | 4,769 | Third-Party Appraisal | Discount of market value | 0% - 19% (4.0%) | |||||||||||
Estimated marketing costs | 4.0% - 8.0% (7.0%) | |||||||||||||||
Estimated property maintenance | 0% - 2% (0.4%) | |||||||||||||||
There were no transfers between levels during the years ended December 31, 2013 or 2012. | ||||||||||||||||
ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. | ||||||||||||||||
The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The methodologies for the other financial assets and financial liabilities are discussed below: | ||||||||||||||||
Cash and cash equivalents: The carrying amounts for cash and cash equivalents approximate fair values. | ||||||||||||||||
Accrued interest receivable and payable: The carrying amounts for accrued interest receivable and payable approximate fair values. | ||||||||||||||||
Other investments: The carrying amount for other investments, which consist primarily of Federal Home Loan Bank stock, approximates fair values. | ||||||||||||||||
Loans held for sale: The fair value of loans held for sale is based on quoted market prices in the secondary market for loans with similar characteristics. | ||||||||||||||||
Loans: The estimated fair values for all fixed-rate loans are derived utilizing discounted cash flow analyses, the calculations of which are performed on groupings of loan receivables that are similar in terms of loan type and characteristics. The expected future cash flows of each grouping are discounted using the U.S. Treasury curve and current offering rates to calculate a discount spread to the curve. The estimated fair value for variable rate loans is the carrying amount. The impact of delinquent loans on the estimation of the fair values described above is not considered to have a material effect and, accordingly, delinquent loans have been disregarded in the valuation methodologies employed. Significant inputs to the fair value measurement of the loan portfolio are unobservable, and as such are classified as Level 3. | ||||||||||||||||
Deposits: The estimated fair value of demand deposit accounts is the carrying amount. The fair value of fixed-maturity certificates is estimated by discounting the estimated cash flows using the interest curve and current offering rates to calculate a discount spread to the curve. | ||||||||||||||||
Borrowed funds: The estimated fair value for borrowed funds is determined by discounting the estimated cash flows using the current rate at which similar borrowings would be made with similar ratings and maturities. | ||||||||||||||||
Off-balance sheet financial instruments: The fair values for the Company’s off-balance sheet commitments are estimated based on fees charged to others to enter into similar agreements taking into account the remaining terms of the agreements and credit standing of the members. The estimated fair value of these commitments is not significant. | ||||||||||||||||
The carrying amount and estimated fair value of the Company’s financial instruments at December 31, 2013 and 2012 are summarized as follows: | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Financial assets: | ||||||||||||||||
Level 1 inputs: | ||||||||||||||||
Cash and cash equivalents | $ | 15,880 | $ | 15,880 | $ | 23,853 | $ | 23,853 | ||||||||
Level 2 inputs: | ||||||||||||||||
Securities available for sale | 430,775 | 430,775 | 383,909 | 383,909 | ||||||||||||
Other investments | 19,782 | 19,782 | 12,867 | 12,867 | ||||||||||||
Loans held for sale | 1,509 | 1,522 | 8,829 | 9,094 | ||||||||||||
Accrued interest receivable | 3,447 | 3,447 | 3,340 | 3,340 | ||||||||||||
Level 3 inputs: | ||||||||||||||||
Loans, net | 824,881 | 840,478 | 735,271 | 743,463 | ||||||||||||
Mortgage servicing rights | 1,473 | 1,473 | 1,009 | 1,009 | ||||||||||||
Interest rate lock commitments | 56 | 56 | 264 | 264 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Level 2 inputs: | ||||||||||||||||
Federal Home Loan Bank advances | $ | 362,000 | $ | 360,576 | $ | 207,000 | $ | 208,216 | ||||||||
Other borrowings | — | — | 11,000 | 11,000 | ||||||||||||
Accrued interest payable | 389 | 389 | 460 | 460 | ||||||||||||
Level 3 inputs: | ||||||||||||||||
Deposits | 813,574 | 824,856 | 816,302 | 820,551 | ||||||||||||
Repurchase agreements | 2,000 | 2,049 | 8,000 | 8,091 | ||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||
Loan commitments | $ | — | $ | — | $ | — | $ | — | ||||||||
Letters of credit | — | — | — | — | ||||||||||||
Financial_Instruments_with_Off
Financial Instruments with Off-Balance Sheet Risk | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ' | |||||||
Financial Instruments with Off-Balance Sheet Risk | ' | |||||||
NOTE 16 – Financial Instruments with Off-Balance Sheet Risk | ||||||||
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include loan commitments, standby letters of credit, and documentary letters of credit. The instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. | ||||||||
The Company’s exposure to credit loss in the event of non-performance by the other party of these loan commitments and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | ||||||||
Outstanding commitments to extend credit and standby letters of credit are summarized as follows at December 31, 2013 and 2012: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Commitments to extend credit | $ | 108,285 | $ | 66,826 | ||||
Standby letters of credit | 5,140 | 258 | ||||||
$ | 113,425 | $ | 67,084 | |||||
As of December 31, 2013 and 2012, commitments to fund fixed-rate loans of $15,647 and $10,178, respectively, were included in the outstanding commitments to extend credit. The interest rates on these commitments to fund fixed-rate loans ranged from 2.24% to 10.00% at December 31, 2013 and from 2.35% to 12.99% at December 31, 2012. | ||||||||
Loan commitments are agreements to lend to a customer as long as there is no customer violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are conditional commitments by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. | ||||||||
Since many of the loan commitments and letters of credit may expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, owner-occupied real estate, and income-producing commercial properties. |
Parent_Company_Only_Condensed_
Parent Company Only Condensed Financial Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | |||||||||||
NOTE 17 – Parent Company Only Condensed Financial Information | ||||||||||||
Condensed financial information of OmniAmerican Bancorp, Inc. follows: | ||||||||||||
Condensed Balance Sheets | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
ASSETS | ||||||||||||
Cash on deposit at subsidiary | $ | 9,069 | $ | 9,247 | ||||||||
Investment in Bank | 189,704 | 187,700 | ||||||||||
ESOP note receivable | 8,447 | 8,724 | ||||||||||
Other assets | 53 | — | ||||||||||
Total assets | $ | 207,273 | $ | 205,671 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||
Payable to subsidiary | $ | 126 | $ | 78 | ||||||||
Other liabilities | 5 | 15 | ||||||||||
Stockholders’ equity | 207,142 | 205,578 | ||||||||||
Total liabilities and stockholders’ equity | $ | 207,273 | $ | 205,671 | ||||||||
Condensed Statements of Income | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest income on ESOP loan | $ | 284 | $ | 293 | $ | 301 | ||||||
Dividend income | — | — | 2,000 | |||||||||
Other income | 4 | 1 | 10 | |||||||||
Operating expenses | 2,217 | 1,908 | 1,655 | |||||||||
(Loss) income before income tax benefit and equity in undistributed earnings of subsidiary | (1,929 | ) | (1,614 | ) | 656 | |||||||
Income tax benefit | (656 | ) | (549 | ) | (457 | ) | ||||||
Equity in undistributed earnings of subsidiary | 7,700 | 6,763 | 2,854 | |||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Condensed Statements of Cash Flows | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||
Equity in undistributed earnings of subsidiary | (7,700 | ) | (6,763 | ) | (4,854 | ) | ||||||
Share-based compensation | 683 | 513 | 178 | |||||||||
Net change in other assets | (53 | ) | 815 | (461 | ) | |||||||
Net change in other liabilities | (10 | ) | 15 | — | ||||||||
Net change in payable to subsidiary | 48 | (20 | ) | 2 | ||||||||
Net cash (used in) provided by operating activities | (605 | ) | 258 | (1,168 | ) | |||||||
Cash flows from investing activities: | ||||||||||||
Dividend distribution from subsidiary | — | — | 2,000 | |||||||||
Payment received on ESOP note receivable | 277 | 269 | 260 | |||||||||
Net cash provided by investing activities | 277 | 269 | 2,260 | |||||||||
Cash flows from financing activities: | ||||||||||||
Proceeds from issuance of common stock | 124 | 139 | — | |||||||||
Purchase of common stock | (31 | ) | (894 | ) | (10,333 | ) | ||||||
Other, net | 57 | 33 | — | |||||||||
Net cash provided by (used in) financing activities | 150 | (722 | ) | (10,333 | ) | |||||||
Net decrease in cash and cash equivalents | (178 | ) | (195 | ) | (9,241 | ) | ||||||
Cash and cash equivalents, beginning of period | 9,247 | 9,442 | 18,683 | |||||||||
Cash and cash equivalents, end of period | $ | 9,069 | $ | 9,247 | $ | 9,442 | ||||||
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||
NOTE 18 – Earnings Per Share | ||||||||||||
Basic earnings per share excludes dilution and is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding if all potentially dilutive common stock equivalents (such as stock options or unvested restricted stock) were issued during the period, as well as any adjustments to income that would result from the assumed issuance. | ||||||||||||
Unallocated common shares held by the ESOP are shown as a reduction in stockholders’ equity and are not included in the weighted-average number of common shares outstanding for either basic or diluted earnings per share calculations. | ||||||||||||
Earnings per share for the years ended December 31, 2013, 2012, and 2011 have been computed as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Weighted-average common shares outstanding | 11,450,184 | 11,367,708 | 11,588,447 | |||||||||
Less: Average unallocated ESOP shares | (817,305 | ) | (855,393 | ) | (827,768 | ) | ||||||
Average unvested restricted stock awards | (220,915 | ) | (176,968 | ) | (65,713 | ) | ||||||
Average shares for basic earnings per share | 10,411,964 | 10,335,347 | 10,694,966 | |||||||||
Net income per common share, basic | $ | 0.62 | $ | 0.55 | $ | 0.37 | ||||||
Diluted | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Weighted-average common shares outstanding for basic earnings per common share | 10,411,964 | 10,335,347 | 10,694,966 | |||||||||
Add: Dilutive effects of share-based compensation plan | 134,497 | 68,177 | 4,488 | |||||||||
Average shares for diluted earnings per share | 10,546,461 | 10,403,524 | 10,699,454 | |||||||||
Net income per common share, diluted | $ | 0.61 | $ | 0.55 | $ | 0.37 | ||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||
NOTE 19 – Quarterly Financial Data (Unaudited) | ||||||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Interest income | $ | 12,389 | $ | 13,432 | $ | 11,381 | $ | 11,064 | ||||||||
Interest expense | 1,779 | 1,827 | 1,953 | 2,080 | ||||||||||||
Net interest income | 10,610 | 11,605 | 9,428 | 8,984 | ||||||||||||
Provision for loan losses | 450 | 200 | 1,100 | 500 | ||||||||||||
Net interest income after provision for loan losses | 10,160 | 11,405 | 8,328 | 8,484 | ||||||||||||
Noninterest income | 3,317 | 3,797 | 3,383 | 5,862 | ||||||||||||
Noninterest expense | 11,062 | 11,890 | 10,703 | 11,328 | ||||||||||||
Income before income tax expense | 2,415 | 3,312 | 1,008 | 3,018 | ||||||||||||
Income tax expense | 791 | 1,116 | 334 | 1,085 | ||||||||||||
Net income | $ | 1,624 | $ | 2,196 | $ | 674 | $ | 1,933 | ||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.16 | $ | 0.21 | $ | 0.06 | $ | 0.19 | ||||||||
Diluted | $ | 0.15 | $ | 0.21 | $ | 0.06 | $ | 0.18 | ||||||||
2012 | ||||||||||||||||
Interest income | $ | 11,558 | $ | 12,495 | $ | 12,919 | $ | 13,056 | ||||||||
Interest expense | 2,232 | 2,511 | 3,024 | 3,077 | ||||||||||||
Net interest income | 9,326 | 9,984 | 9,895 | 9,979 | ||||||||||||
Provision for loan losses | — | 550 | — | 1,400 | ||||||||||||
Net interest income after provision for loan losses | 9,326 | 9,434 | 9,895 | 8,579 | ||||||||||||
Noninterest income | 4,257 | 4,704 | 3,340 | 3,484 | ||||||||||||
Noninterest expense | 11,729 | 10,708 | 11,123 | 10,883 | ||||||||||||
Income before income tax expense | 1,854 | 3,430 | 2,112 | 1,180 | ||||||||||||
Income tax expense | 695 | 1,134 | 672 | 377 | ||||||||||||
Net income | $ | 1,159 | $ | 2,296 | $ | 1,440 | $ | 803 | ||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.11 | $ | 0.22 | $ | 0.14 | $ | 0.08 | ||||||||
Diluted | $ | 0.11 | $ | 0.22 | $ | 0.14 | $ | 0.08 | ||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting and Reporting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation [Policy Text Block] | ' |
Nature of Operations and Basis of Presentation | |
The consolidated financial statements include the accounts of OmniAmerican Bancorp, Inc. and its wholly-owned subsidiary, OmniAmerican Bank, together referred to as “OmniAmerican” or the “Company.” All significant intercompany balances and transactions have been eliminated in consolidation. | |
OmniAmerican Bancorp, Inc., a Maryland corporation, owns all of the outstanding shares of OmniAmerican Bank (the “Bank”). The Bank is a federally-chartered savings bank headquartered in Fort Worth, Texas that provides a variety of banking and financial services to individuals and business customers. The Bank’s operations are conducted primarily through its administrative offices and 14 branches located in the Dallas/Fort Worth Metroplex and Hood County. | |
Use of Estimates, Policy | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The allowance for loan losses, realization of deferred tax assets, and fair values of financial instruments are particularly subject to change. | |
Segment Reporting, Policy | ' |
Segment Reporting | |
Operating segments are components of a business about which separate financial information is available and that are evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and assess performance. Public companies are required to report certain financial information about operating segments in interim and annual financial statements. The Company’s chief operating decision-maker uses consolidated results to make operating and strategic decisions. Therefore, the Company is considered to have one operating segment. | |
Cash and Cash Equivalents and Concentrations, Policy | ' |
Cash and Cash Equivalents and Concentrations | |
Cash and cash equivalents consist of cash on hand, amounts due from banks, and investments with maturities of three months or less at date of purchase. Net cash flows are reported for loan and deposit transactions. | |
The Company maintains funds on deposit at correspondent banks which at times exceed the federally insured limits. The Company’s management monitors the balances in these accounts and periodically assesses the financial condition of correspondent banks. | |
Investment Securities, Policy | ' |
Investment Securities | |
Investments that the Company intends to hold for an indefinite period of time, but not necessarily to maturity, are classified as available for sale and are carried at fair value. Unrealized gains and losses on investments classified as available for sale have been accounted for as accumulated other comprehensive income (loss). | |
Gains and losses on the sale of available for sale securities are determined using the specific-identification method. Amortization of premiums and accretion of discounts are recognized in interest income over the period to maturity. For debt securities the Company intends to sell prior to recovery or for which it is more likely than not that the Company will have to sell prior to recovery, impairment losses are considered other-than-temporary and the entire difference between the security’s cost and its fair value is recorded in earnings. For debt securities the Company does not intend to sell or for which it is more likely than not that the Company will not have to sell prior to recovery, the Company recognizes a credit loss component of an other-than-temporary impairment in earnings and the remaining portion of the impairment loss in other comprehensive income. The credit loss component of an other-than-temporary impairment is determined based upon the Company’s estimate of the present value of the cash flows expected to be collected. | |
The Company, as a member of the Federal Home Loan Bank (“FHLB”) system, is required to maintain an investment in capital stock of the FHLB in an amount between 0.02% and 0.15% of its assets plus between 3.00% and 5.00% of advances outstanding. No ready market exists for the FHLB stock and it has no quoted market value; however, the stock is redeemable upon proper notice given to the FHLB. The investment in FHLB stock is carried at cost and dividends are recorded as income when received. FHLB stock is included in other investments in the consolidated balance sheets. | |
Loan Held-for-sale, Policy | ' |
Loans Held for Sale | |
Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Sales in the secondary market are recognized when full acceptance and funding has been received. Gains and losses on sales of loans are recorded as the difference between the sales price and the carrying value of the loan sold. | |
Loans, Policy | ' |
Loans | |
Loans that management intends to hold for the foreseeable future or until maturity or payoff are reported at the amount of unpaid principal, net of an allowance for loan losses and deferred loan fees and costs. Interest on loans is recognized over the terms of the loans and is calculated using the simple interest method on principal amounts outstanding. Loan fees and certain direct loan origination costs are deferred, and the net fee or cost is recognized as an adjustment to interest income using the interest method over the contractual lives of the related loans. For loans that are paid off prior to their contractual maturity, any remaining unamortized loan fees or costs are recognized. | |
Premiums and discounts on purchased loans are amortized over the estimated life of the loans as an adjustment to yield using the interest method. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. | |
Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately review individual consumer and residential real estate loans for impairment, unless such loans are the subject of a restructuring agreement. | |
A loan modification that is renegotiated to assist borrowers who are unable to meet the original terms of their loans, and to maximize the recovery of the loans to these borrowers is considered a troubled debt restructuring (“TDR”). A TDR occurs when the Company grants a concession it would not otherwise consider because of economic or legal reasons pertaining to the borrower’s financial difficulties. TDRs are identified as impaired loans. | |
Income Recognition on Impaired and Non-accrual Loans, Policy | ' |
Income Recognition on Impaired and Non-accrual Loans | |
The accrual of interest on loans, including impaired loans, is discontinued when management believes that the borrower’s financial condition is such that collection of interest is doubtful. The Company’s policy is generally to discontinue accrual of interest when the loan becomes 90 days delinquent. Delinquency status is based on contractual terms of the loan. All interest accrued but not collected for loans that are placed on non-accrual status or charged off is reversed against interest income. Cash payments received on loans on non-accrual status reduce the principal of the loans. | |
Loans may be returned to accrual status when all principal and interest amounts contractually due are reasonably assured of repayment within an acceptable period of time and there is a sustained period of repayment performance by the borrower in accordance with the contractual terms of interest and principal. | |
Allowance for Loan Losses, Policy | ' |
Allowance for Loan Losses | |
The allowance for loan losses is maintained at a level that, in management’s judgment, is adequate to cover probable credit losses inherent in the loan portfolio at the balance sheet date. The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as doubtful, substandard, or special mention, and that are also classified as impaired. For such loans that are also classified as impaired, an allowance is established when the expected cash flows, discounted at the loan's contractual rate (or, for collateral dependent loans, the collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers non-classified loans and is primarily based on the historical loss experience adjusted for relevant qualitative factors. | |
The allowance for loan losses includes allowance allocations calculated in accordance with Accounting Standards Codification (“ASC”) Topic 310, “Receivables” and allowance allocations calculated in accordance with ASC Topic 450, “Contingencies.” Further information regarding the Company’s policies and methodology used to estimate the allowance for loan losses is presented in Note 4 – Loans and Allowance for Loan Losses. | |
Premises and Equipment, Policy | ' |
Premises and Equipment | |
Land is carried at cost. Depreciable premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation expense is computed on the straight-line method based upon the estimated useful lives of the assets ranging from 20 to 40 years for buildings and building improvements and from three to 10 years for furniture and equipment. Maintenance and repairs are charged to noninterest expense. Renewals and betterments are added to the asset accounts and depreciated over the periods benefited. Depreciable assets sold or retired are removed from the asset and related accumulated depreciation accounts and any resulting gain or loss is reflected in the income and expense accounts. The cost of leasehold improvements is amortized using the straight-line method over the lesser of the useful lives of the assets or the terms of the related leases. | |
Bank-Owned Life Insurance, Policy | ' |
Bank-Owned Life Insurance | |
The Company has purchased life insurance policies on certain key executives. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Changes in the net cash surrender value of the policies, as well as insurance proceeds received are reflected in non-interest income on the consolidated statements of income and are not subject to income taxes. | |
Other Real Estate Owned, Policy | ' |
Other Real Estate Owned and Foreclosed Assets | |
Other real estate owned is recorded at fair value less the estimated costs to sell the property at the date of transfer to other real estate owned. The fair value of other real estate is determined through independent third-party appraisals. At the time a loan is transferred to other real estate owned, any carrying amount in excess of the fair value less estimated costs to sell the property is charged off to the allowance for loan losses. Subsequently, should the fair value of an asset, less the estimated costs to sell, decline to less than the carrying amount of the asset, the deficiency is recognized in the period in which it becomes known and is included in noninterest expense. Net operating expenses of properties are also included in noninterest expense. Gains and losses realized from sales of other real estate owned are recorded in noninterest income. | |
Foreclosed Assets, Policy | ' |
Other foreclosed assets are held for sale and are initially recorded at fair value less estimated selling costs at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less costs to sell. Foreclosed assets are included in other assets in the accompanying consolidated balance sheets. Revenues and expenses from operations and changes in the valuation allowance are included in noninterest expense. | |
Interest Rate Lock Commitments, Policy | ' |
Interest Rate Lock Commitments | |
Interest rate lock commitments for mortgage loans originated for sale are carried at fair value and are included in other assets in the consolidated balance sheets. See Note 6 — Derivative Financial Instruments for additional information. | |
Mortgage Servicing Rights, Policy | ' |
Mortgage Servicing Rights | |
Mortgage servicing rights are initially recorded at fair value when acquired through the sale of loans with servicing rights retained and are amortized to servicing income on loans sold in proportion to and over the period of estimated net servicing income. The value of mortgage servicing rights at the date of the sale of loans is determined based on the discounted present value of expected future cash flows using key assumptions for servicing income and costs and prepayment rates on the underlying loans. | |
The estimated fair value is evaluated periodically with the assistance of a third-party firm for impairment by comparing actual cash flows and estimated cash flows from the servicing assets to those estimated at the time servicing assets were originated. The effect of changes in market interest rates on estimated rates of loan prepayments represents the predominant risk characteristic underlying the mortgage servicing rights portfolio. The Company’s methodology for estimating the fair value of mortgage servicing rights is highly sensitive to changes in assumptions. For example, the determination of fair value uses anticipated prepayment speeds. Actual prepayment experience may differ and any difference may have a material effect on the fair value. Thus, any measurement of mortgage servicing rights’ fair value is limited by the conditions existing and assumptions as of the date made. Those assumptions may not be appropriate if they are applied at different times. | |
Stock-Based Compensation, Policy | ' |
Stock-Based Compensation | |
Compensation cost is recognized for stock option and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. | |
Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. | |
Transfers of Financial Assets, Policy | ' |
Transfers of Financial Assets | |
Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of the right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |
Income Tax, Policy | ' |
Income Taxes | |
The Company accounts for income taxes using the asset and liability method of accounting for income taxes as prescribed in ASC Topic 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and net operating loss carryforwards. If currently available information raises doubt as to the realization of the deferred tax assets, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company evaluates uncertain tax positions at the end of each reporting period. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefit recognized in the financial statements from any such position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of December 31, 2013 and 2012, after evaluating all uncertain tax positions, the Company concluded there were no material uncertain tax positions. The Company’s federal income tax returns have not been audited for the tax years 2006 through 2012. | |
Comprehensive Income, Policy | ' |
Comprehensive Income (Loss) | |
Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities and the defined benefit pension plan, are reported in the consolidated statements of comprehensive income (loss). | |
Restrictions on Cash, Policy | ' |
Restrictions on Cash | |
Cash on hand or on deposit with the Federal Reserve Bank of $1,122 and $12,648 was required to meet regulatory reserve and clearing requirements at December 31, 2013 and 2012, respectively. | |
Advertising Costs, Policy | ' |
Advertising Costs | |
Advertising costs are charged to earnings as incurred. Advertising costs of $576, $409, and $446 were charged to earnings during the years ended December 31, 2013, 2012, and 2011, respectively. | |
Earnings Per Common Share, Policy | ' |
Earnings Per Common Share | |
Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period, reduced for unallocated ESOP shares. Diluted earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period increased for the dilutive effect of unvested stock options and stock awards, if any. | |
Employee Stock Ownership Plan (ESOP), Policy | ' |
Employee Stock Ownership Plan | |
Compensation expense for the Company's Employee Stock Ownership Plan ("ESOP") is recorded at an amount equal to the shares allocated by the ESOP multiplied by the average fair market value of the shares during the period. The Company recognizes compensation expense ratably over the year based upon the Company’s estimate of the number of shares expected to be allocated by the ESOP. The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity in the consolidated balance sheets. The difference between the average fair market value and the cost of the shares allocated by the ESOP is recorded as an adjustment to additional paid-in capital. | |
Recent Accounting Pronouncements, Policy | ' |
Recent Accounting Pronouncements | |
In December 2011, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2011-11, “Balance Sheet: Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 requires entities to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. ASU 2011-11 is effective for periods beginning on or after January 1, 2013. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of this guidance did not have a material impact on the Company’s financial statements. | |
In January 2013, the FASB issued ASU No. 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” This guidance amends the scope of ASU No. 2011-11 to clarify that the disclosure requirements are limited to derivatives, including bifurcated embedded derivatives, repurchase and reverse repurchase agreements, and securities borrowing and lending transactions that are either offset in the statement of financial position or subject to an enforceable master netting arrangement or similar agreement. The adoption of this guidance did not have a material impact on the Company’s financial statements. | |
In February 2013, the FASB issued ASU No. 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” Under ASU 2013-02, an entity is required to provide information about the amounts reclassified out of accumulated comprehensive income by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross reference to other disclosures that provide additional details about those amounts. ASU 2013-02 does not change the current requirements for reporting net income or other comprehensive income in the financial statements. ASU 2013-02 is effective for reporting periods beginning after December 15, 2012 for public companies. The adoption of this guidance did not have a material impact on the Company’s financial statements. |
Concentration_of_Funds_Concent
Concentration of Funds Concentration of Funds (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Concentration of Funds [Abstract] | ' | |||||||
Concentration of Fund [Table Text Block] | ' | |||||||
December 31, | ||||||||
2013 | 2012 | |||||||
TIB—The Independent BankersBank | $ | 3,007 | $ | 553 | ||||
ViewPoint Bank | — | 874 | ||||||
U. S. Bank | 3,296 | 3,296 | ||||||
$ | 6,303 | $ | 4,723 | |||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Amortized cost and estimated fair value | ' | |||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 282,180 | $ | 2,616 | $ | (5,208 | ) | $ | 279,588 | |||||||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 140,221 | 1,758 | (1,403 | ) | 140,576 | |||||||||||||||||||
Agency bonds | 5,000 | — | (462 | ) | 4,538 | |||||||||||||||||||
Municipal obligations | 179 | — | (9 | ) | 170 | |||||||||||||||||||
Other equity securities | 6,000 | — | (97 | ) | 5,903 | |||||||||||||||||||
Total investment securities available for sale | $ | 433,580 | $ | 4,374 | $ | (7,179 | ) | $ | 430,775 | |||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 192,894 | $ | 6,843 | $ | (7 | ) | $ | 199,730 | |||||||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 169,046 | 3,871 | (21 | ) | 172,896 | |||||||||||||||||||
Agency bonds | 5,000 | 15 | — | 5,015 | ||||||||||||||||||||
Other equity securities | 6,000 | 268 | — | 6,268 | ||||||||||||||||||||
Total investment securities available for sale | $ | 372,940 | $ | 10,997 | $ | (28 | ) | $ | 383,909 | |||||||||||||||
Continuous unrealized losses | ' | |||||||||||||||||||||||
Continuous Unrealized Losses Existing for | ||||||||||||||||||||||||
Less Than 12 Months | Greater Than 12 Months | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 142,715 | $ | (5,088 | ) | $ | 2,248 | $ | (120 | ) | $ | 144,963 | $ | (5,208 | ) | |||||||||
U. S. Government-sponsored collateralized mortgage obligations | 50,066 | (1,403 | ) | — | — | 50,066 | (1,403 | ) | ||||||||||||||||
Agency bonds | 4,538 | (462 | ) | — | — | 4,538 | (462 | ) | ||||||||||||||||
Municipal obligations | 170 | (9 | ) | — | — | 170 | (9 | ) | ||||||||||||||||
Other equity securities | 5,903 | (97 | ) | — | — | 5,903 | (97 | ) | ||||||||||||||||
$ | 203,392 | $ | (7,059 | ) | $ | 2,248 | $ | (120 | ) | $ | 205,640 | $ | (7,179 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||||||
U. S. Government-sponsored mortgage-backed securities | $ | 4,708 | $ | (7 | ) | $ | — | $ | — | $ | 4,708 | $ | (7 | ) | ||||||||||
U. S. Government-sponsored collateralized mortgage obligations | 9,467 | (21 | ) | — | — | 9,467 | (21 | ) | ||||||||||||||||
$ | 14,175 | $ | (28 | ) | $ | — | $ | — | $ | 14,175 | $ | (28 | ) | |||||||||||
Contractual maturity | ' | |||||||||||||||||||||||
Amortized | Fair Value | |||||||||||||||||||||||
Cost | ||||||||||||||||||||||||
Due from one to five years | $ | 1,347 | $ | 1,429 | ||||||||||||||||||||
Due from five to ten years | 21,056 | 20,072 | ||||||||||||||||||||||
Due after ten years | 405,177 | 403,371 | ||||||||||||||||||||||
Equity securities | 6,000 | 5,903 | ||||||||||||||||||||||
Total | $ | 433,580 | $ | 430,775 | ||||||||||||||||||||
Realized gains and losses | ' | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from sales of investment securities | $ | 46,215 | $ | 60,440 | $ | 127,799 | ||||||||||||||||||
Gross gains from sales of investment securities | 1,701 | 860 | 3,708 | |||||||||||||||||||||
Gross losses from sales of investment securities | — | — | (2,911 | ) | ||||||||||||||||||||
Other investments | ' | |||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Federal Home Loan Bank of Dallas stock | $ | 17,424 | $ | 10,800 | ||||||||||||||||||||
SBA Loan Fund | 1,750 | 1,750 | ||||||||||||||||||||||
Valesco Commerce SBIC Investment Fund | 476 | 292 | ||||||||||||||||||||||
Lone Star Opportunities Investment Funds | 107 | — | ||||||||||||||||||||||
Community Development Investment | 25 | 25 | ||||||||||||||||||||||
$ | 19,782 | $ | 12,867 | |||||||||||||||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Loan Composition | ' | |||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 262,723 | $ | 251,756 | ||||||||||||||||||||||||||||||||||||
Home equity | 17,106 | 20,863 | ||||||||||||||||||||||||||||||||||||||
Total residential real estate loans | 279,829 | 272,619 | ||||||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 106,560 | 84,783 | ||||||||||||||||||||||||||||||||||||||
Real estate construction | 59,648 | 52,245 | ||||||||||||||||||||||||||||||||||||||
Commercial business | 69,320 | 63,390 | ||||||||||||||||||||||||||||||||||||||
Total commercial loans | 235,528 | 200,418 | ||||||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 264,671 | 221,907 | ||||||||||||||||||||||||||||||||||||||
Automobile, direct | 31,598 | 27,433 | ||||||||||||||||||||||||||||||||||||||
Other consumer | 15,330 | 16,707 | ||||||||||||||||||||||||||||||||||||||
Total consumer loans | 311,599 | 266,047 | ||||||||||||||||||||||||||||||||||||||
Total loans | 826,956 | 739,084 | ||||||||||||||||||||||||||||||||||||||
Deferred fees and discounts | 4,370 | 3,087 | ||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (6,445 | ) | (6,900 | ) | ||||||||||||||||||||||||||||||||||||
Total loans receivable, net | $ | 824,881 | $ | 735,271 | ||||||||||||||||||||||||||||||||||||
Impaired Loans | ' | |||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | ||||||||||||||||||||||||||||||||||||
Balance | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 7,531 | $ | 7,531 | $ | — | $ | 7,468 | $ | 305 | ||||||||||||||||||||||||||||||
Home equity | 42 | 42 | — | 14 | 1 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 2,347 | 2,347 | — | 4,237 | 31 | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | 3,171 | 66 | |||||||||||||||||||||||||||||||||||
Commercial business | 591 | 591 | — | 700 | 21 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | 824 | 824 | — | 738 | 26 | |||||||||||||||||||||||||||||||||||
Automobile, direct | 32 | 32 | — | 34 | 2 | |||||||||||||||||||||||||||||||||||
Other consumer | 15 | 15 | — | 4 | — | |||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | 11,382 | 11,382 | — | 16,366 | 452 | |||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial real estate | 551 | 551 | 321 | 46 | — | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial business | 1,040 | 1,040 | 200 | 1,064 | 8 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Automobile, direct | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Impaired loans with an allowance recorded | 1,591 | 1,591 | 521 | 1,110 | 8 | |||||||||||||||||||||||||||||||||||
Total | $ | 12,973 | $ | 12,973 | $ | 521 | $ | 17,476 | $ | 460 | ||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 6,995 | $ | 6,995 | $ | — | $ | 7,781 | $ | 285 | ||||||||||||||||||||||||||||||
Home equity | 32 | 32 | — | 50 | 2 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 6,263 | 6,263 | — | 6,965 | 133 | |||||||||||||||||||||||||||||||||||
Real estate construction | 4,707 | 4,707 | — | 6,093 | 122 | |||||||||||||||||||||||||||||||||||
Commercial business | 807 | 807 | — | 1,301 | 35 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | 606 | 606 | — | 523 | 20 | |||||||||||||||||||||||||||||||||||
Automobile, direct | 51 | 51 | — | 63 | 5 | |||||||||||||||||||||||||||||||||||
Other consumer | 3 | 3 | — | 4 | — | |||||||||||||||||||||||||||||||||||
Impaired loans with no related allowance recorded | 19,464 | 19,464 | — | 22,780 | 602 | |||||||||||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial real estate | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial business | 981 | 981 | 278 | 1,124 | 14 | |||||||||||||||||||||||||||||||||||
Automobile, indirect | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Automobile, direct | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Impaired loans with an allowance recorded | 981 | 981 | 278 | 1,124 | 14 | |||||||||||||||||||||||||||||||||||
Total | $ | 20,445 | $ | 20,445 | $ | 278 | $ | 23,904 | $ | 616 | ||||||||||||||||||||||||||||||
Nonaccrual loans | ' | |||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 2,050 | $ | 1,026 | ||||||||||||||||||||||||||||||||||||
Home equity | 42 | — | ||||||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 800 | 5,444 | ||||||||||||||||||||||||||||||||||||||
Real estate construction | — | — | ||||||||||||||||||||||||||||||||||||||
Commercial business | 864 | 1,245 | ||||||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 558 | 143 | ||||||||||||||||||||||||||||||||||||||
Automobile, direct | 15 | — | ||||||||||||||||||||||||||||||||||||||
Other consumer | 15 | — | ||||||||||||||||||||||||||||||||||||||
Total | $ | 4,344 | $ | 7,858 | ||||||||||||||||||||||||||||||||||||
Past due loan aging | ' | |||||||||||||||||||||||||||||||||||||||
30-59 | 60-89 | Greater | Total | Loans Not | Total | |||||||||||||||||||||||||||||||||||
Days | Days | than | Past Due | Past Due | ||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days | ||||||||||||||||||||||||||||||||||||||
Past Due | ||||||||||||||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 1,170 | $ | — | $ | 1,932 | $ | 3,102 | $ | 259,621 | $ | 262,723 | ||||||||||||||||||||||||||||
Home equity | 1 | — | 42 | 43 | 17,063 | 17,106 | ||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | — | — | 120 | 120 | 106,440 | 106,560 | ||||||||||||||||||||||||||||||||||
Real estate construction | 876 | — | — | 876 | 58,772 | 59,648 | ||||||||||||||||||||||||||||||||||
Commercial business | — | — | — | — | 69,320 | 69,320 | ||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 2,217 | 615 | 558 | 3,390 | 261,281 | 264,671 | ||||||||||||||||||||||||||||||||||
Automobile, direct | 48 | 21 | 15 | 84 | 31,514 | 31,598 | ||||||||||||||||||||||||||||||||||
Other consumer | 72 | 33 | 15 | 120 | 15,210 | 15,330 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 4,384 | $ | 669 | $ | 2,682 | $ | 7,735 | $ | 819,221 | $ | 826,956 | ||||||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate Loans: | ||||||||||||||||||||||||||||||||||||||||
One- to four-family | $ | 3,717 | $ | 1,487 | $ | 897 | $ | 6,101 | $ | 245,655 | $ | 251,756 | ||||||||||||||||||||||||||||
Home equity | 260 | 36 | — | 296 | 20,567 | 20,863 | ||||||||||||||||||||||||||||||||||
Commercial Loans: | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 224 | 27 | 3,730 | 3,981 | 80,802 | 84,783 | ||||||||||||||||||||||||||||||||||
Real estate construction | — | — | — | — | 52,245 | 52,245 | ||||||||||||||||||||||||||||||||||
Commercial business | 18 | — | — | 18 | 63,372 | 63,390 | ||||||||||||||||||||||||||||||||||
Consumer Loans: | ||||||||||||||||||||||||||||||||||||||||
Automobile, indirect | 1,176 | 346 | 144 | 1,666 | 220,241 | 221,907 | ||||||||||||||||||||||||||||||||||
Automobile, direct | 22 | 30 | — | 52 | 27,381 | 27,433 | ||||||||||||||||||||||||||||||||||
Other consumer | 62 | 19 | — | 81 | 16,626 | 16,707 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 5,479 | $ | 1,945 | $ | 4,771 | $ | 12,195 | $ | 726,889 | $ | 739,084 | ||||||||||||||||||||||||||||
Risk category of loans by class for loans individually analyzed for impairment | ' | |||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | Real Estate | Commercial | One-to Four- | Total | ||||||||||||||||||||||||||||||||||||
Construction | Business | Family | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Pass | $ | 101,134 | $ | 75,698 | $ | 59,536 | $ | 47,299 | $ | 64,155 | $ | 58,488 | $ | 15,514 | $ | 12,191 | $ | 240,339 | $ | 193,676 | ||||||||||||||||||||
Special Mention | 735 | — | — | — | 2,164 | 2,264 | — | — | 2,899 | 2,264 | ||||||||||||||||||||||||||||||
Substandard | 4,691 | 9,085 | 112 | 4,946 | 3,001 | 2,638 | 3,175 | 3,250 | 10,979 | 19,919 | ||||||||||||||||||||||||||||||
Doubtful | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
$ | 106,560 | $ | 84,783 | $ | 59,648 | $ | 52,245 | $ | 69,320 | $ | 63,390 | $ | 18,689 | $ | 15,441 | $ | 254,217 | $ | 215,859 | |||||||||||||||||||||
Real estate loans collectively evaluated for impairment | ' | |||||||||||||||||||||||||||||||||||||||
One-to Four-Family | Home Equity | Total | ||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||
Prime | $ | 195,919 | $ | 189,529 | $ | 16,521 | $ | 20,106 | $ | 212,440 | $ | 209,635 | ||||||||||||||||||||||||||||
Subprime | 48,115 | 46,786 | 585 | 757 | 48,700 | 47,543 | ||||||||||||||||||||||||||||||||||
$ | 244,034 | $ | 236,315 | $ | 17,106 | $ | 20,863 | $ | 261,140 | $ | 257,178 | |||||||||||||||||||||||||||||
Consumer loans by credit score | ' | |||||||||||||||||||||||||||||||||||||||
Automobile, | Automobile, | Other Consumer | Total | |||||||||||||||||||||||||||||||||||||
indirect | direct | |||||||||||||||||||||||||||||||||||||||
Risk Tier | Credit Score | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||
A | 720+ | $ | 135,583 | $ | 113,192 | $ | 23,137 | $ | 19,873 | $ | 11,453 | $ | 12,408 | $ | 170,173 | $ | 145,473 | |||||||||||||||||||||||
B | 690–719 | 53,678 | 45,625 | 4,311 | 3,986 | 2,228 | 2,203 | 60,217 | 51,814 | |||||||||||||||||||||||||||||||
C | 661-689 | 44,732 | 36,247 | 2,320 | 2,023 | 1,268 | 1,631 | 48,320 | 39,901 | |||||||||||||||||||||||||||||||
D | 660 and under | 30,678 | 26,843 | 1,830 | 1,551 | 381 | 465 | 32,889 | 28,859 | |||||||||||||||||||||||||||||||
$ | 264,671 | $ | 221,907 | $ | 31,598 | $ | 27,433 | $ | 15,330 | $ | 16,707 | $ | 311,599 | $ | 266,047 | |||||||||||||||||||||||||
Activity in the allowance for loan losses by portfolio segment | ' | |||||||||||||||||||||||||||||||||||||||
Residential | Commercial | Consumer | Total | |||||||||||||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Charge-offs | (248 | ) | (203 | ) | (2,667 | ) | (3,118 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 38 | 62 | 313 | 413 | ||||||||||||||||||||||||||||||||||||
Provisions | 191 | (475 | ) | 2,534 | 2,250 | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 851 | $ | 2,517 | $ | 3,077 | $ | 6,445 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 521 | $ | — | $ | 521 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 851 | 1,996 | 3,077 | 5,924 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 851 | $ | 2,517 | $ | 3,077 | $ | 6,445 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,573 | $ | 4,529 | $ | 871 | $ | 12,973 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 272,256 | 230,999 | 310,728 | 813,983 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 279,829 | $ | 235,528 | $ | 311,599 | $ | 826,956 | ||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Charge-offs | (103 | ) | (1,300 | ) | (2,634 | ) | (4,037 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 123 | 409 | 547 | 1,079 | ||||||||||||||||||||||||||||||||||||
Provisions | (418 | ) | 581 | 1,787 | 1,950 | |||||||||||||||||||||||||||||||||||
Ending balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 278 | $ | — | $ | 278 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 870 | 2,855 | 2,897 | 6,622 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 870 | $ | 3,133 | $ | 2,897 | $ | 6,900 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 7,027 | $ | 12,758 | $ | 660 | $ | 20,445 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 265,592 | 187,660 | 265,387 | 718,639 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 272,619 | $ | 200,418 | $ | 266,047 | $ | 739,084 | ||||||||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 1,365 | $ | 4,901 | $ | 2,666 | $ | 8,932 | ||||||||||||||||||||||||||||||||
Charge-offs | (379 | ) | (1,882 | ) | (2,476 | ) | (4,737 | ) | ||||||||||||||||||||||||||||||||
Recoveries | 65 | 89 | 329 | 483 | ||||||||||||||||||||||||||||||||||||
Provisions | 217 | 335 | 2,678 | 3,230 | ||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 131 | $ | 1,235 | $ | — | $ | 1,366 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 1,137 | 2,208 | 3,197 | 6,542 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 1,268 | $ | 3,443 | $ | 3,197 | $ | 7,908 | ||||||||||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||||||||||||||
Ending balance attributable to loans: | ||||||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 9,135 | $ | 23,158 | $ | 577 | $ | 32,870 | ||||||||||||||||||||||||||||||||
Collectively evaluated for impairment | 283,365 | 149,268 | 224,186 | 656,819 | ||||||||||||||||||||||||||||||||||||
Total ending balance | $ | 292,500 | $ | 172,426 | $ | 224,763 | $ | 689,689 | ||||||||||||||||||||||||||||||||
Troubled debt restructuring summary | ' | |||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
TDR | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | $ | 6,276 | $ | 6,892 | ||||||||||||||||||||||||||||||||||||
Commercial | 2,581 | 10,841 | ||||||||||||||||||||||||||||||||||||||
Consumer | 382 | 517 | ||||||||||||||||||||||||||||||||||||||
Total TDR | 9,239 | 18,250 | ||||||||||||||||||||||||||||||||||||||
Less: TDR in non-accrual status | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | 795 | 892 | ||||||||||||||||||||||||||||||||||||||
Commercial | 483 | 5,314 | ||||||||||||||||||||||||||||||||||||||
Consumer | 99 | — | ||||||||||||||||||||||||||||||||||||||
Total performing TDR | $ | 7,862 | $ | 12,044 | ||||||||||||||||||||||||||||||||||||
Troubled debt restructurings by method of concession | ' | |||||||||||||||||||||||||||||||||||||||
Residential | Commercial | Consumer | Total | |||||||||||||||||||||||||||||||||||||
Real Estate | ||||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | $ | — | $ | 355 | $ | 23 | $ | 378 | ||||||||||||||||||||||||||||||||
Loan maturity extension | — | — | 25 | 25 | ||||||||||||||||||||||||||||||||||||
Forbearance | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Principal reduction | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Total | $ | — | $ | 355 | $ | 48 | $ | 403 | ||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Interest rate reduction | $ | — | $ | — | $ | 222 | $ | 222 | ||||||||||||||||||||||||||||||||
Loan maturity extension | — | — | 37 | 37 | ||||||||||||||||||||||||||||||||||||
Forbearance | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Principal reduction | — | — | 21 | 21 | ||||||||||||||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 280 | $ | 280 | ||||||||||||||||||||||||||||||||
TDR loans modified during the period | ' | |||||||||||||||||||||||||||||||||||||||
Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Commercial | 1 | 371 | 371 | |||||||||||||||||||||||||||||||||||||
Consumer | 3 | 59 | 59 | |||||||||||||||||||||||||||||||||||||
Total | 4 | $ | 430 | $ | 430 | |||||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Commercial | — | — | — | |||||||||||||||||||||||||||||||||||||
Consumer | 18 | 292 | 290 | |||||||||||||||||||||||||||||||||||||
Total | 18 | $ | 292 | $ | 290 | |||||||||||||||||||||||||||||||||||
Non-performing assets | ' | |||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Other real estate owned and foreclosed assets: | ||||||||||||||||||||||||||||||||||||||||
Residential Real Estate | $ | 107 | $ | 819 | ||||||||||||||||||||||||||||||||||||
Commercial | 70 | 3,950 | ||||||||||||||||||||||||||||||||||||||
Consumer | 850 | 394 | ||||||||||||||||||||||||||||||||||||||
Total other real estate owned and foreclosed assets | 1,027 | 5,163 | ||||||||||||||||||||||||||||||||||||||
Total non-accrual loans | 4,344 | 7,858 | ||||||||||||||||||||||||||||||||||||||
Total non-performing assets | $ | 5,371 | $ | 13,021 | ||||||||||||||||||||||||||||||||||||
Non-performing loans/Total loans | 0.53 | % | 1.06 | % | ||||||||||||||||||||||||||||||||||||
Non-performing assets/Total assets | 0.39 | 1.04 | ||||||||||||||||||||||||||||||||||||||
Mortgage_Servicing_Rights_Mort
Mortgage Servicing Rights Mortgage Servicing Rights (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Mortgage Servicing Rights [Abstract] | ' | |||||||||||
Schedule of Servicing Assets at Fair Value [Table Text Block] | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Carrying value, before valuation allowance: | ||||||||||||
Balance, beginning of year | $ | 1,370 | $ | 1,379 | $ | 1,352 | ||||||
Additions | 445 | 410 | 351 | |||||||||
Amortization | (314 | ) | (419 | ) | (324 | ) | ||||||
Balance, end of year | 1,501 | 1,370 | 1,379 | |||||||||
Valuation allowance: | ||||||||||||
Balance, beginning of year | (361 | ) | (322 | ) | (110 | ) | ||||||
Impairment adjustment | 333 | (39 | ) | (212 | ) | |||||||
Balance, end of year | (28 | ) | (361 | ) | (322 | ) | ||||||
Carrying value of mortgage servicing rights | $ | 1,473 | $ | 1,009 | $ | 1,057 | ||||||
Fair value of mortgage servicing rights | $ | 1,473 | $ | 1,009 | $ | 1,057 | ||||||
Mortgage loans serviced | $ | 189,084 | $ | 157,953 | $ | 132,721 | ||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||
Schedule of Derivative Instruments | ' | |||||||||||
Outstanding Notional Balance | Fair Value | Recorded (Losses)/Gains | ||||||||||
(In thousands) | ||||||||||||
December 31, 2013: | ||||||||||||
Interest rate lock commitments | $ | 3,453 | $ | 56 | $ | (208 | ) | |||||
December 31, 2012: | ||||||||||||
Interest rate lock commitments | $ | 10,805 | $ | 264 | $ | 264 | ||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Premises and Equipment [Table Text Block] | ' | |||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Land | $ | 6,375 | $ | 6,699 | ||||
Buildings and improvements | 47,806 | 46,840 | ||||||
Furniture and equipment | 32,889 | 32,581 | ||||||
Leasehold improvements | 1,849 | 3,044 | ||||||
88,919 | 89,164 | |||||||
Accumulated amortization and depreciation | (47,407 | ) | (46,038 | ) | ||||
$ | 41,512 | $ | 43,126 | |||||
Operating Leases of Lessee Disclosure [Table Text Block] | ' | |||||||
2014 | $ | 595 | ||||||
2015 | 568 | |||||||
2016 | 480 | |||||||
2017 | 505 | |||||||
2018 | 500 | |||||||
Thereafter | 913 | |||||||
$ | 3,561 | |||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||
2014 | $ | 2,782 | ||||||
2015 | 2,354 | |||||||
2016 | 1,849 | |||||||
2017 | 1,122 | |||||||
2018 | 460 | |||||||
Thereafter | 514 | |||||||
$ | 9,081 | |||||||
Other_Real_Estate_Owned_and_Ot1
Other Real Estate Owned and Other Foreclosed Assets Other Real Estate Owned and Other Foreclosed Assets Rollforwards (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
OREO Rollforward [Abstract] | ' | |||||||||||
Other Real Estate, Roll Forward [Table Text Block] | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Other real estate owned: | ||||||||||||
Beginning balance | $ | 4,769 | $ | 6,683 | $ | 14,793 | ||||||
Assets transferred in | 184 | 1,958 | 3,038 | |||||||||
Net proceeds from sales | (4,573 | ) | (2,775 | ) | (8,230 | ) | ||||||
Net gain (loss) on sales | 24 | (94 | ) | (439 | ) | |||||||
Write-downs | (227 | ) | (1,003 | ) | (2,479 | ) | ||||||
Ending balance | $ | 177 | $ | 4,769 | $ | 6,683 | ||||||
Other foreclosed assets: | ||||||||||||
Beginning balance | $ | 394 | $ | 227 | $ | 207 | ||||||
Assets transferred in | 3,019 | 3,100 | 2,633 | |||||||||
Net proceeds from sales | (2,573 | ) | (2,921 | ) | (2,600 | ) | ||||||
Net gain (loss) on sales | 10 | (12 | ) | (13 | ) | |||||||
Ending balance | $ | 850 | $ | 394 | $ | 227 | ||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Deposits [Abstract] | ' | |||||||||||
Deposits by major type | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Noninterest-bearing demand | $ | 58,071 | $ | 47,331 | ||||||||
Interest-bearing demand | 146,818 | 139,976 | ||||||||||
Savings | 105,030 | 105,946 | ||||||||||
Money market | 233,918 | 229,537 | ||||||||||
Certificates of deposit | 269,737 | 293,512 | ||||||||||
Total deposits | $ | 813,574 | $ | 816,302 | ||||||||
Interest expense on deposits | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest-bearing demand | $ | 100 | $ | 120 | $ | 142 | ||||||
Savings | 48 | 113 | 481 | |||||||||
Money market | 534 | 539 | 448 | |||||||||
Certificates of deposit | 4,389 | 5,509 | 6,285 | |||||||||
Total interest expense on deposits | $ | 5,071 | $ | 6,281 | $ | 7,356 | ||||||
Certificate of deposits maturity | ' | |||||||||||
2014 | $ | 142,518 | ||||||||||
2015 | 61,158 | |||||||||||
2016 | 29,802 | |||||||||||
2017 | 7,341 | |||||||||||
2018 | 28,918 | |||||||||||
Thereafter | — | |||||||||||
$ | 269,737 | |||||||||||
Other_Secured_Borrowings_Table
Other Secured Borrowings (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
FHLB Advances Maturity Table | ' | |||||||
2014 | $ | 144,167 | ||||||
2015 | 156,167 | |||||||
2016 | 53,333 | |||||||
2017 | 8,333 | |||||||
2018 | — | |||||||
Thereafter | — | |||||||
$ | 362,000 | |||||||
FHLB Advances and Other Borrowings | ' | |||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Ending Balance: | ||||||||
FHLB advances | $ | 362,000 | $ | 207,000 | ||||
Repurchase agreements | 2,000 | 8,000 | ||||||
Other borrowings | — | 11,000 | ||||||
Maximum Balance: | ||||||||
FHLB advances | 417,000 | 289,500 | ||||||
Repurchase agreements | 2,000 | 58,000 | ||||||
Other borrowings | 53,000 | 39,500 | ||||||
Average Balance: | ||||||||
FHLB advances | 296,721 | 255,388 | ||||||
Repurchase agreements | 2,214 | 36,279 | ||||||
Other borrowings | 10,307 | 6,273 | ||||||
Weighted-average interest rate: | ||||||||
During the period: | ||||||||
FHLB advances | 0.84 | % | 1.08 | % | ||||
Repurchase agreements | 2.89 | % | 4.92 | % | ||||
Other borrowings | 0.15 | % | 0.18 | % | ||||
End of period: | ||||||||
FHLB advances | 0.8 | % | 1.14 | % | ||||
Repurchase agreements | 2.82 | % | 3.08 | % | ||||
Other borrowings | — | % | 0.26 | % |
Employee_Benefit_Plans_Tables
Employee Benefit Plans - (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Employee Benefits and Share-based Compensation [Abstract] | ' | |||||||||||||
Changes in Projected Benefit Obligations | ' | |||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Projected benefit obligation as of January 1, | $ | 5,513 | $ | 5,415 | ||||||||||
Interest cost | 227 | 256 | ||||||||||||
Actuarial (gain) loss | (1,034 | ) | 497 | |||||||||||
Benefits paid | (216 | ) | (3 | ) | ||||||||||
Effect of settlement | — | (652 | ) | |||||||||||
Projected benefit obligation at December 31, | $ | 4,490 | $ | 5,513 | ||||||||||
Accumulated benefit obligation at December 31, | $ | 4,490 | $ | 5,513 | ||||||||||
Changes in Fair Value of Plan Assets | ' | |||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Fair value of plan assets as of January 1, | $ | 3,765 | $ | 3,186 | ||||||||||
Actual return on plan assets | 1,011 | 500 | ||||||||||||
Employer contributions | — | 734 | ||||||||||||
Benefits paid | (216 | ) | (3 | ) | ||||||||||
Effect of settlement | — | (652 | ) | |||||||||||
Fair value of plan assets as of December 31, | $ | 4,560 | $ | 3,765 | ||||||||||
Funded status as of December 31, | $ | 70 | $ | (1,748 | ) | |||||||||
Net periodic pension cost | ' | |||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Interest cost on projected benefit obligation | $ | 227 | $ | 256 | $ | 250 | ||||||||
Expected return on assets | (296 | ) | (247 | ) | (251 | ) | ||||||||
Amortization of net loss | 193 | 132 | 65 | |||||||||||
Effect of settlement recognition | — | 351 | 178 | |||||||||||
Net periodic pension cost | $ | 124 | $ | 492 | $ | 242 | ||||||||
Pension plan recognized as a component of Other Comprehensive Income (Loss) | ' | |||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net actuarial gain (loss) | $ | 1,748 | $ | (244 | ) | $ | (1,649 | ) | ||||||
Amortization of net loss | 193 | 132 | 65 | |||||||||||
Effect of settlement recognition | — | 351 | 178 | |||||||||||
Total recognized in other comprehensive income (loss) | 1,941 | 239 | (1,406 | ) | ||||||||||
Deferred tax (expense) benefit | (660 | ) | (81 | ) | 478 | |||||||||
Other comprehensive income (loss), net of tax | $ | 1,281 | $ | 158 | $ | (928 | ) | |||||||
Net periodic benefit cost | ' | |||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Net gain (loss) | $ | (1,025 | ) | $ | (2,967 | ) | ||||||||
Deferred tax (expense) benefit | 348 | 1,009 | ||||||||||||
Amounts included in other comprehensive loss, net of tax | $ | (677 | ) | $ | (1,958 | ) | ||||||||
Assumptions Used | ' | |||||||||||||
Year Ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted-average assumptions used to determine benefit obligation | ||||||||||||||
Discount rate | 5.25 | % | 4.25 | % | 4.75 | % | ||||||||
Rate of increase in future compensation | — | % | — | % | — | % | ||||||||
Weighted-average assumptions used to determine net periodic benefit cost | ||||||||||||||
Discount rate | 4.25 | % | 4.75 | % | 6 | % | ||||||||
Expected long-term rate of return on assets | 8.5 | % | 8 | % | 7.5 | % | ||||||||
Rate of increase in future compensation | — | % | — | % | — | % | ||||||||
Allocation of Plan Assets | ' | |||||||||||||
Target | Actual Allocations | |||||||||||||
Allocations | 2013 | 2012 | ||||||||||||
Equity securities | 80 | % | 84 | % | 81 | % | ||||||||
Debt securities | 20 | % | 16 | % | 19 | % | ||||||||
100 | % | 100 | % | 100 | % | |||||||||
Defined Benefit Plans fair value hierarchy | ' | |||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Level 1: | ||||||||||||||
Mutual funds | $ | 3,459 | $ | 2,143 | ||||||||||
Level 2: | ||||||||||||||
Pooled separate accounts | 1,101 | 1,622 | ||||||||||||
Total assets at fair value | $ | 4,560 | $ | 3,765 | ||||||||||
Expected Benefit Payments | ' | |||||||||||||
Year ended December 31, | ||||||||||||||
2014 | $ | 610 | ||||||||||||
2015 | 110 | |||||||||||||
2016 | 100 | |||||||||||||
2017 | 84 | |||||||||||||
2018 | 280 | |||||||||||||
Years 2019 - 2023 | 1,360 | |||||||||||||
Restricted shares activity | ' | |||||||||||||
2013 | 2012 | |||||||||||||
Shares | Weighted- | Shares | Weighted- | |||||||||||
Average Grant | Average Grant | |||||||||||||
Date Fair Value | Date Fair Value | |||||||||||||
Per Share | Per Share | |||||||||||||
Non-vested at January 1, | 254,323 | $ | 18.69 | 118,738 | $ | 14.15 | ||||||||
Granted | 11,000 | 22.81 | 165,800 | 21.11 | ||||||||||
Vested | (62,608 | ) | 17.84 | (29,612 | ) | 14.15 | ||||||||
Forfeited | (23,132 | ) | 19.19 | (603 | ) | 14.15 | ||||||||
Non-vested at December 31, | 179,583 | $ | 19.18 | 254,323 | $ | 18.69 | ||||||||
Stock options valuation assumptions | ' | |||||||||||||
2012 | ||||||||||||||
Risk-free interest rate | 1.13 | % | ||||||||||||
Expected term of stock options (years)—for officers and employees | 7.5 | |||||||||||||
Expected term of stock options (years)—for Directors | 7.5 | |||||||||||||
Expected stock price volatility | 36.72 | % | ||||||||||||
Expected dividends | — | % | ||||||||||||
Forfeiture rate—for officers and employees | 17.84 | % | ||||||||||||
Forfeiture rate—for Directors | — | % | ||||||||||||
Stock options activity | ' | |||||||||||||
Shares | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding at January 1, 2012 | 373,552 | $ | 14.15 | 9.46 | $ | 579 | ||||||||
Granted | 152,200 | 20.86 | 9.53 | 346 | ||||||||||
Exercised | (9,873 | ) | 14.15 | — | (62 | ) | ||||||||
Forfeited | (10,214 | ) | 16.18 | — | (71 | ) | ||||||||
Outstanding at December 31, 2012 | 505,665 | $ | 16.13 | 9.46 | 579 | |||||||||
Granted | — | — | — | — | ||||||||||
Exercised | (38,997 | ) | 14.15 | — | (341 | ) | ||||||||
Forfeited | (68,557 | ) | 17.29 | — | (280 | ) | ||||||||
Expired | (3,178 | ) | 14.97 | — | (20 | ) | ||||||||
Outstanding at December 31, 2013 | 394,933 | $ | 16.13 | 7.54 | $ | 2,088 | ||||||||
Fully vested and expected to vest | 368,573 | $ | 16.1 | 7.52 | $ | 1,961 | ||||||||
Exercisable at December 31, 2013 | 139,135 | $ | 15.45 | 7.02 | $ | 830 | ||||||||
Summary of Employee Stock Ownership Plan (ESOP) shares | ' | |||||||||||||
December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||
Allocated shares | 152,352 | 114,264 | ||||||||||||
Unearned shares | 799,848 | 837,936 | ||||||||||||
Total ESOP shares | 952,200 | 952,200 | ||||||||||||
Fair value of unearned shares | $ | 17,101 | $ | 19,381 | ||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Regulatory Matters [Abstract] | ' | ||||||||||||||||||||
Capital Ratio Requirements | ' | ||||||||||||||||||||
Actual | Minimum | Minimum | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Actions Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
Consolidated as of December 31, 2013 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 213,553 | 23.41 | % | $ | 72,948 | 8 | % | $ | 91,185 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 206,662 | 22.66 | % | 36,474 | 4 | % | 54,711 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 206,662 | 14.86 | % | 55,633 | 4 | % | 69,542 | 5 | % | ||||||||||||
OmniAmerican Bank as of December 31, 2013 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 196,115 | 21.5 | % | $ | 72,957 | 8 | % | $ | 91,197 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 189,224 | 20.75 | % | 36,479 | 4 | % | 54,718 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 189,224 | 13.6 | % | 55,638 | 4 | % | 69,548 | 5 | % | ||||||||||||
Consolidated as of December 31, 2012 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 203,734 | 25.47 | % | $ | 63,997 | 8 | % | $ | 79,996 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 196,435 | 24.56 | % | 31,998 | 4 | % | 47,998 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 196,435 | 15.67 | % | 50,140 | 4 | % | 62,674 | 5 | % | ||||||||||||
OmniAmerican Bank as of December 31, 2012 | |||||||||||||||||||||
Total risk-based capital to risk-weighted assets | $ | 185,856 | 23.23 | % | $ | 64,003 | 8 | % | $ | 80,004 | 10 | % | |||||||||
Tier I risk-based capital to risk-weighted assets | 178,557 | 22.32 | % | 32,002 | 4 | % | 48,002 | 6 | % | ||||||||||||
Tier I (Core) capital to adjusted total assets | 178,557 | 14.24 | % | 50,143 | 4 | % | 62,678 | 5 | % | ||||||||||||
Reconcilation of GAAP Equity [Table Text Block] | ' | ||||||||||||||||||||
December 31, | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Consolidated GAAP equity | $ | 207,142 | $ | 205,578 | |||||||||||||||||
Consolidated equity in excess of Bank equity | (17,438 | ) | (17,878 | ) | |||||||||||||||||
Bank GAAP equity | 189,704 | 187,700 | |||||||||||||||||||
Deferred tax assets disallowed for regulatory capital | (2,764 | ) | (3,760 | ) | |||||||||||||||||
Unrealized loss (gain) on securities available for sale | 1,754 | (7,240 | ) | ||||||||||||||||||
Unrealized loss on pension plan | 677 | 1,958 | |||||||||||||||||||
Disallowed servicing asset | (147 | ) | (101 | ) | |||||||||||||||||
Tier I capital | 189,224 | 178,557 | |||||||||||||||||||
General allowance for loan losses | 6,445 | 6,900 | |||||||||||||||||||
Reserve for unfunded loan commitments | 446 | 278 | |||||||||||||||||||
Unrealized gains on equity securities | — | 121 | |||||||||||||||||||
Total regulatory capital | $ | 196,115 | $ | 185,856 | |||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components of Income Tax Expense | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current | ||||||||||||
Federal | $ | 2,279 | $ | 1,338 | $ | 164 | ||||||
State | 51 | 46 | 16 | |||||||||
Total current taxes | 2,330 | 1,384 | 180 | |||||||||
Deferred | ||||||||||||
Federal | 996 | 1,494 | 1,664 | |||||||||
State | — | — | — | |||||||||
Total deferred taxes | 996 | 1,494 | 1,664 | |||||||||
Total income taxes | $ | 3,326 | $ | 2,878 | $ | 1,844 | ||||||
Deferred Tax Assets and Liabilities | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Allowance for loan losses | $ | 1,719 | $ | 1,873 | ||||||||
Premises and equipment | — | 361 | ||||||||||
Securities available for sale | 954 | — | ||||||||||
Pension plan | 996 | 1,610 | ||||||||||
Other real estate owned | 10 | 381 | ||||||||||
Interest on non-accrual loans | 169 | 373 | ||||||||||
Accrued expenses | 351 | 200 | ||||||||||
Deferred loan fees | 230 | 222 | ||||||||||
Stock-based compensation | 323 | 242 | ||||||||||
4,752 | 5,262 | |||||||||||
Deferred tax liabilities: | ||||||||||||
Servicing rights | (501 | ) | (343 | ) | ||||||||
Securities available for sale | — | (3,730 | ) | |||||||||
FHLB stock | (63 | ) | (51 | ) | ||||||||
Premises and equipment | (33 | ) | — | |||||||||
Other | (89 | ) | (99 | ) | ||||||||
(686 | ) | (4,223 | ) | |||||||||
Net deferred tax asset | $ | 4,066 | $ | 1,039 | ||||||||
Effective Income Tax Rate Reconciliation | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate times financial statement income | $ | 3,316 | $ | 2,916 | $ | 1,976 | ||||||
Effect of: | ||||||||||||
State taxes, net of federal benefit | 34 | 30 | 10 | |||||||||
Nontaxable income | (485 | ) | (397 | ) | (319 | ) | ||||||
Non-deductible expenses | 461 | 329 | 177 | |||||||||
Total income tax expense | $ | 3,326 | $ | 2,878 | $ | 1,844 | ||||||
Effective tax rate | 34.1 | % | 33.6 | % | 31.7 | % | ||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Related Party Transactions [Abstract] | ' | |||
Schedule of Related Party Transactions [Table Text Block] | ' | |||
Balance at beginning of year | $ | 1,940 | ||
New loans | — | |||
Repayments | (547 | ) | ||
Balance at end of year | $ | 1,393 | ||
Fair_Value_Measurements_Tables
Fair Value Measurements - (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | ' | |||||||||||||||
Fair Value Measurements at December 31, 2013, Using | Total Fair Value at | |||||||||||||||
Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | December 31, 2013 | |||||||||||||
Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. Government-sponsored mortgage-backed securities | $ | — | $ | 279,588 | $ | — | $ | 279,588 | ||||||||
U.S. Government-sponsored collateralized mortgage obligations | — | 140,576 | — | 140,576 | ||||||||||||
Agency bonds | — | 4,538 | — | 4,538 | ||||||||||||
Municipal obligations | — | 170 | — | 170 | ||||||||||||
Other equity securities | — | 5,903 | — | 5,903 | ||||||||||||
Interest rate lock commitments | — | — | 56 | 56 | ||||||||||||
Fair Value Measurements at December 31, 2012, Using | Total Fair Value at | |||||||||||||||
Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | December 31, 2012 | |||||||||||||
Assets: | ||||||||||||||||
Investment securities available for sale: | ||||||||||||||||
U.S. Government-sponsored mortgage-backed securities | $ | — | $ | 199,730 | $ | — | $ | 199,730 | ||||||||
U.S. Government-sponsored collateralized mortgage obligations | — | 172,896 | — | 172,896 | ||||||||||||
Agency bonds | — | 5,015 | — | 5,015 | ||||||||||||
Other equity securities | — | 6,268 | — | 6,268 | ||||||||||||
Interest rate lock commitments | — | — | 264 | 264 | ||||||||||||
Fair value of impaired loans | ' | |||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying value of impaired loans | $ | 1,591 | $ | 981 | ||||||||||||
Specific reserve | (521 | ) | (278 | ) | ||||||||||||
Fair Value | $ | 1,070 | $ | 703 | ||||||||||||
Foreclosed Assets Remeasured and Reported at Fair Value | ' | |||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Carrying value of other real estate owned prior to remeasurement | $ | 1,631 | $ | 7,571 | ||||||||||||
Less: Charge-offs recognized in the allowance for loan losses at initial acquisition | (18 | ) | (244 | ) | ||||||||||||
Add: Fair value adjustments recognized in noninterest income at initial acquisition | 43 | — | ||||||||||||||
Less: Subsequent write-downs included in net loss on write-down of other real estate owned | (227 | ) | (1,065 | ) | ||||||||||||
Less: Sales of other real estate owned | (1,252 | ) | (1,493 | ) | ||||||||||||
Carrying value of remeasured other real estate owned at end of period | $ | 177 | $ | 4,769 | ||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | ' | |||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||
Fair Value | Valuation Techniques | Unobservable Input | Range | |||||||||||||
(Average) | ||||||||||||||||
December 31, 2013: | ||||||||||||||||
Impaired loans, net of allowance | $ | 840 | Discounted Cash Flow Analysis | Interest rate | 1.5% - 7.0% (4.9%) | |||||||||||
Loan term (in months) | 60 - 120 (91) | |||||||||||||||
$ | 230 | Third-Party Appraisal | Discount of market value | 0% (0%) | ||||||||||||
Estimated marketing costs | 6.0% (6.0%) | |||||||||||||||
Estimated property maintenance | 3.6% (3.6%) | |||||||||||||||
Mortgage servicing rights | $ | 1,473 | Discounted Cash Flow Analysis | Interest rate | 2.6% - 7.9% (4.3%) | |||||||||||
Loan term (in months) | 82 - 527 (312) | |||||||||||||||
Other real estate owned | $ | 177 | Third-Party Appraisal | Discount of market value | 0% (0%) | |||||||||||
Estimated marketing costs | 0.0% - 6.0% (2.4%) | |||||||||||||||
Estimated property maintenance | 0% (0%) | |||||||||||||||
December 31, 2012: | ||||||||||||||||
Impaired loans, net of allowance | $ | 703 | Discounted Cash Flow Analysis | Interest rate | 6.3% - 7.0% (6.5%) | |||||||||||
Loan term (in months) | 60 - 85 (76) | |||||||||||||||
Mortgage servicing rights | $ | 1,009 | Discounted Cash Flow Analysis | Interest rate | 2.0% - 8.1% (4.6%) | |||||||||||
Loan term (in months) | 72 - 458 (323) | |||||||||||||||
Other real estate owned | $ | 4,769 | Third-Party Appraisal | Discount of market value | 0% - 19% (4.0%) | |||||||||||
Estimated marketing costs | 4.0% - 8.0% (7.0%) | |||||||||||||||
Estimated property maintenance | 0% - 2% (0.4%) | |||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Financial assets: | ||||||||||||||||
Level 1 inputs: | ||||||||||||||||
Cash and cash equivalents | $ | 15,880 | $ | 15,880 | $ | 23,853 | $ | 23,853 | ||||||||
Level 2 inputs: | ||||||||||||||||
Securities available for sale | 430,775 | 430,775 | 383,909 | 383,909 | ||||||||||||
Other investments | 19,782 | 19,782 | 12,867 | 12,867 | ||||||||||||
Loans held for sale | 1,509 | 1,522 | 8,829 | 9,094 | ||||||||||||
Accrued interest receivable | 3,447 | 3,447 | 3,340 | 3,340 | ||||||||||||
Level 3 inputs: | ||||||||||||||||
Loans, net | 824,881 | 840,478 | 735,271 | 743,463 | ||||||||||||
Mortgage servicing rights | 1,473 | 1,473 | 1,009 | 1,009 | ||||||||||||
Interest rate lock commitments | 56 | 56 | 264 | 264 | ||||||||||||
Financial liabilities: | ||||||||||||||||
Level 2 inputs: | ||||||||||||||||
Federal Home Loan Bank advances | $ | 362,000 | $ | 360,576 | $ | 207,000 | $ | 208,216 | ||||||||
Other borrowings | — | — | 11,000 | 11,000 | ||||||||||||
Accrued interest payable | 389 | 389 | 460 | 460 | ||||||||||||
Level 3 inputs: | ||||||||||||||||
Deposits | 813,574 | 824,856 | 816,302 | 820,551 | ||||||||||||
Repurchase agreements | 2,000 | 2,049 | 8,000 | 8,091 | ||||||||||||
Off-balance sheet financial instruments: | ||||||||||||||||
Loan commitments | $ | — | $ | — | $ | — | $ | — | ||||||||
Letters of credit | — | — | — | — | ||||||||||||
Financial_Instruments_with_Off1
Financial Instruments with Off-Balance Sheet Risk Financial Instruments with Off-Balance Sheet Risk (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ' | |||||||
Schedule of Line of Credit Facilities | ' | |||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Commitments to extend credit | $ | 108,285 | $ | 66,826 | ||||
Standby letters of credit | 5,140 | 258 | ||||||
$ | 113,425 | $ | 67,084 | |||||
Parent_Company_Only_Condensed_1
Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Schedule of Condensed Balance Sheet | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
ASSETS | ||||||||||||
Cash on deposit at subsidiary | $ | 9,069 | $ | 9,247 | ||||||||
Investment in Bank | 189,704 | 187,700 | ||||||||||
ESOP note receivable | 8,447 | 8,724 | ||||||||||
Other assets | 53 | — | ||||||||||
Total assets | $ | 207,273 | $ | 205,671 | ||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||
Payable to subsidiary | $ | 126 | $ | 78 | ||||||||
Other liabilities | 5 | 15 | ||||||||||
Stockholders’ equity | 207,142 | 205,578 | ||||||||||
Total liabilities and stockholders’ equity | $ | 207,273 | $ | 205,671 | ||||||||
Schedule of Condensed Income Statement | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest income on ESOP loan | $ | 284 | $ | 293 | $ | 301 | ||||||
Dividend income | — | — | 2,000 | |||||||||
Other income | 4 | 1 | 10 | |||||||||
Operating expenses | 2,217 | 1,908 | 1,655 | |||||||||
(Loss) income before income tax benefit and equity in undistributed earnings of subsidiary | (1,929 | ) | (1,614 | ) | 656 | |||||||
Income tax benefit | (656 | ) | (549 | ) | (457 | ) | ||||||
Equity in undistributed earnings of subsidiary | 7,700 | 6,763 | 2,854 | |||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Schedule of Condensed Cash Flow Statement | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||||||
Equity in undistributed earnings of subsidiary | (7,700 | ) | (6,763 | ) | (4,854 | ) | ||||||
Share-based compensation | 683 | 513 | 178 | |||||||||
Net change in other assets | (53 | ) | 815 | (461 | ) | |||||||
Net change in other liabilities | (10 | ) | 15 | — | ||||||||
Net change in payable to subsidiary | 48 | (20 | ) | 2 | ||||||||
Net cash (used in) provided by operating activities | (605 | ) | 258 | (1,168 | ) | |||||||
Cash flows from investing activities: | ||||||||||||
Dividend distribution from subsidiary | — | — | 2,000 | |||||||||
Payment received on ESOP note receivable | 277 | 269 | 260 | |||||||||
Net cash provided by investing activities | 277 | 269 | 2,260 | |||||||||
Cash flows from financing activities: | ||||||||||||
Proceeds from issuance of common stock | 124 | 139 | — | |||||||||
Purchase of common stock | (31 | ) | (894 | ) | (10,333 | ) | ||||||
Other, net | 57 | 33 | — | |||||||||
Net cash provided by (used in) financing activities | 150 | (722 | ) | (10,333 | ) | |||||||
Net decrease in cash and cash equivalents | (178 | ) | (195 | ) | (9,241 | ) | ||||||
Cash and cash equivalents, beginning of period | 9,247 | 9,442 | 18,683 | |||||||||
Cash and cash equivalents, end of period | $ | 9,069 | $ | 9,247 | $ | 9,442 | ||||||
Earnings_Per_Share_Tables
Earnings Per Share - (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Basic | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Weighted-average common shares outstanding | 11,450,184 | 11,367,708 | 11,588,447 | |||||||||
Less: Average unallocated ESOP shares | (817,305 | ) | (855,393 | ) | (827,768 | ) | ||||||
Average unvested restricted stock awards | (220,915 | ) | (176,968 | ) | (65,713 | ) | ||||||
Average shares for basic earnings per share | 10,411,964 | 10,335,347 | 10,694,966 | |||||||||
Net income per common share, basic | $ | 0.62 | $ | 0.55 | $ | 0.37 | ||||||
Diluted | ||||||||||||
Net income | $ | 6,427 | $ | 5,698 | $ | 3,967 | ||||||
Weighted-average common shares outstanding for basic earnings per common share | 10,411,964 | 10,335,347 | 10,694,966 | |||||||||
Add: Dilutive effects of share-based compensation plan | 134,497 | 68,177 | 4,488 | |||||||||
Average shares for diluted earnings per share | 10,546,461 | 10,403,524 | 10,699,454 | |||||||||
Net income per common share, diluted | $ | 0.61 | $ | 0.55 | $ | 0.37 | ||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Interest income | $ | 12,389 | $ | 13,432 | $ | 11,381 | $ | 11,064 | ||||||||
Interest expense | 1,779 | 1,827 | 1,953 | 2,080 | ||||||||||||
Net interest income | 10,610 | 11,605 | 9,428 | 8,984 | ||||||||||||
Provision for loan losses | 450 | 200 | 1,100 | 500 | ||||||||||||
Net interest income after provision for loan losses | 10,160 | 11,405 | 8,328 | 8,484 | ||||||||||||
Noninterest income | 3,317 | 3,797 | 3,383 | 5,862 | ||||||||||||
Noninterest expense | 11,062 | 11,890 | 10,703 | 11,328 | ||||||||||||
Income before income tax expense | 2,415 | 3,312 | 1,008 | 3,018 | ||||||||||||
Income tax expense | 791 | 1,116 | 334 | 1,085 | ||||||||||||
Net income | $ | 1,624 | $ | 2,196 | $ | 674 | $ | 1,933 | ||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.16 | $ | 0.21 | $ | 0.06 | $ | 0.19 | ||||||||
Diluted | $ | 0.15 | $ | 0.21 | $ | 0.06 | $ | 0.18 | ||||||||
2012 | ||||||||||||||||
Interest income | $ | 11,558 | $ | 12,495 | $ | 12,919 | $ | 13,056 | ||||||||
Interest expense | 2,232 | 2,511 | 3,024 | 3,077 | ||||||||||||
Net interest income | 9,326 | 9,984 | 9,895 | 9,979 | ||||||||||||
Provision for loan losses | — | 550 | — | 1,400 | ||||||||||||
Net interest income after provision for loan losses | 9,326 | 9,434 | 9,895 | 8,579 | ||||||||||||
Noninterest income | 4,257 | 4,704 | 3,340 | 3,484 | ||||||||||||
Noninterest expense | 11,729 | 10,708 | 11,123 | 10,883 | ||||||||||||
Income before income tax expense | 1,854 | 3,430 | 2,112 | 1,180 | ||||||||||||
Income tax expense | 695 | 1,134 | 672 | 377 | ||||||||||||
Net income | $ | 1,159 | $ | 2,296 | $ | 1,440 | $ | 803 | ||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 0.11 | $ | 0.22 | $ | 0.14 | $ | 0.08 | ||||||||
Diluted | $ | 0.11 | $ | 0.22 | $ | 0.14 | $ | 0.08 | ||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting and Reporting Policies Summary of Significant Accounting and Reporting Policies - Nature of Operations (Details) | Dec. 31, 2013 |
Nature of Operations [Abstract] | ' |
Number of Stores | 14 |
Summary_of_Significant_Account3
Summary of Significant Accounting and Reporting Policies Summary of Significant Accounting and Reporting Policies - Investment Securities (Details) | Dec. 31, 2013 |
Investments, Debt and Equity Securities [Abstract] | ' |
FHLB stock, minimum required investment as a percentage of assets | 0.02% |
FHLB stock, maximum required investment as a percentage of assets | 0.15% |
FHLB stock, minimum required investment as a percentage of FHLB advances | 3.00% |
FHLB stock, maximum required investment as a percentage of FHLB advances | 5.00% |
Summary_of_Significant_Account4
Summary of Significant Accounting and Reporting Policies Summary of Accounting and Reporting Policies - Income Recognition on Nonaccrual Loans (Details) | Dec. 31, 2013 |
Revenue Recognition [Abstract] | ' |
Nonaccrual policy, days delinquent | 90 |
Summary_of_Significant_Account5
Summary of Significant Accounting and Reporting Policies Summary of Accounting and Reporting Policies - Premise and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '40 years |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Summary_of_Significant_Account6
Summary of Significant Accounting and Reporting Policies - Restrictions on Cash (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Investments [Abstract] | ' | ' |
Restrictions on Cash | $1,122 | $12,648 |
Summary_of_Significant_Account7
Summary of Significant Accounting and Reporting Policies - Advertising Cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Marketing and Advertising Expense [Abstract] | ' | ' | ' |
Advertising Cost | $576 | $409 | $446 |
Concentration_of_Funds_Concent1
Concentration of Funds Concentration of Funds (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Concentration of Funds [Line Items] | ' | ' |
Fair Value, Concentration of Risk, Cash and Cash Equivalents | $6,303 | $4,723 |
TIB - The Independent Bankers Bank [Member] | ' | ' |
Concentration of Funds [Line Items] | ' | ' |
Fair Value, Concentration of Risk, Cash and Cash Equivalents | 3,007 | 553 |
ViewPointBank [Member] | ' | ' |
Concentration of Funds [Line Items] | ' | ' |
Fair Value, Concentration of Risk, Cash and Cash Equivalents | 0 | 874 |
U.S.Bank [Member] | ' | ' |
Concentration of Funds [Line Items] | ' | ' |
Fair Value, Concentration of Risk, Cash and Cash Equivalents | $3,296 | $3,296 |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Estimated Fair Value (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | $433,580 | $372,940 |
Gross Unrealized Gains | 4,374 | 10,997 |
Gross Unrealized Losses | -7,179 | -28 |
Available-for-sale Securities Fair Value | 430,775 | 383,909 |
U. S. government sponsored mortgage-backed securities | ' | ' |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | 282,180 | 192,894 |
Gross Unrealized Gains | 2,616 | 6,843 |
Gross Unrealized Losses | -5,208 | -7 |
Available-for-sale Securities Fair Value | 279,588 | 199,730 |
U. S. government sponsored collateralized mortgage obligations | ' | ' |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | 140,221 | 169,046 |
Gross Unrealized Gains | 1,758 | 3,871 |
Gross Unrealized Losses | -1,403 | -21 |
Available-for-sale Securities Fair Value | 140,576 | 172,896 |
Agency bonds | ' | ' |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | 5,000 | 5,000 |
Gross Unrealized Gains | 0 | 15 |
Gross Unrealized Losses | -462 | 0 |
Available-for-sale Securities Fair Value | 4,538 | 5,015 |
Municipal Bonds | ' | ' |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | 179 | ' |
Gross Unrealized Gains | 0 | ' |
Gross Unrealized Losses | -9 | ' |
Available-for-sale Securities Fair Value | 170 | ' |
Other equity securities | ' | ' |
Investment Securities | ' | ' |
Amortized cost of available for sale securities | 6,000 | 6,000 |
Gross Unrealized Gains | 0 | 268 |
Gross Unrealized Losses | -97 | 0 |
Available-for-sale Securities Fair Value | $5,903 | $6,268 |
Investment_Securities_Continuo
Investment Securities - Continuous Unrealized Losses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | $203,392 | $14,175 |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -7,059 | -28 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 2,248 | 0 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | -120 | 0 |
Continuous Unrealized Losses, Total, Fair Value | 205,640 | 14,175 |
Continuous Unrealized Losses, Total, Unrealized Losses | -7,179 | -28 |
U. S. government sponsored mortgage-backed securities | ' | ' |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | 142,715 | 4,708 |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -5,088 | -7 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 2,248 | 0 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | -120 | 0 |
Continuous Unrealized Losses, Total, Fair Value | 144,963 | 4,708 |
Continuous Unrealized Losses, Total, Unrealized Losses | -5,208 | -7 |
U. S. government sponsored collateralized mortgage obligations | ' | ' |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | 50,066 | 9,467 |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -1,403 | -21 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 0 | 0 |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | 0 | 0 |
Continuous Unrealized Losses, Total, Fair Value | 50,066 | 9,467 |
Continuous Unrealized Losses, Total, Unrealized Losses | -1,403 | -21 |
Agency bonds | ' | ' |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | 4,538 | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -462 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 0 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | 0 | ' |
Continuous Unrealized Losses, Total, Fair Value | 4,538 | ' |
Continuous Unrealized Losses, Total, Unrealized Losses | -462 | ' |
Municipal Bonds | ' | ' |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | 170 | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -9 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 0 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | 0 | ' |
Continuous Unrealized Losses, Total, Fair Value | 170 | ' |
Continuous Unrealized Losses, Total, Unrealized Losses | -9 | ' |
Other equity securities | ' | ' |
Investment Securities | ' | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Fair Value | 5,903 | ' |
Continuous Unrealized Losses Existing for, Less than 12 Months, Unrealized Losses | -97 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Fair Value | 0 | ' |
Continuous Unrealized Losses Existing for, Greater Than 12 Months, Unrealized Losses | 0 | ' |
Continuous Unrealized Losses, Total, Fair Value | 5,903 | ' |
Continuous Unrealized Losses, Total, Unrealized Losses | ($97) | ' |
Investment_Securities_Unrealiz
Investment Securities - Unrealized Losses Narrative (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Number of Investments | 202 | 170 |
Available-for-sale, Securities in Unrealized Loss Positions, Number of Positions | 82 | 7 |
Investment_Securities_Contract
Investment Securities - Contractual Maturity (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due from one to five years, Amortized Cost | $1,347 | ' |
Due from five to ten years, Amortized Cost | 21,056 | ' |
Due after ten years, Amortized Cost | 405,177 | ' |
Equity securities, Amortized Cost | 6,000 | ' |
Amortized Cost | 433,580 | 372,940 |
Due from one to five years, Fair Value | 1,429 | ' |
Due from five to ten years, Fair Value | 20,072 | ' |
Due after ten years, Fair Value | 403,371 | ' |
Equity securities, Fair Value | 5,903 | ' |
Available-for-sale Securities Fair Value | $430,775 | $383,909 |
Investment_Securities_Pledged_
Investment Securities - Pledged Securities Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank Advances | ' | ' |
Investment Securities | ' | ' |
Securities Pledged as Collateral | $161,553 | $28,745 |
Other Borrowings | ' | ' |
Investment Securities | ' | ' |
Securities Pledged as Collateral | $2,192 | $8,990 |
Investment_Securities_Realized
Investment Securities - Realized Gains and Losses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' |
Proceeds from sales of investment securities | $46,215 | $60,440 | $127,799 |
Gross gains from sales of investment securities | 1,701 | 860 | 3,708 |
Gross losses from sales of investment securities | $0 | $0 | ($2,911) |
Investment_Securities_Other_In
Investment Securities - Other Investments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Other Investments | ' | ' |
Other Investments | $19,782 | $12,867 |
Federal Home Loan Bank Stock | ' | ' |
Schedule of Other Investments | ' | ' |
Federal Home Loan Bank Stock | 17,424 | 10,800 |
SBA Loan Fund | ' | ' |
Schedule of Other Investments | ' | ' |
Other Investments | 1,750 | 1,750 |
Valesco Commerce SBIC Investment Fund | ' | ' |
Schedule of Other Investments | ' | ' |
Other Investments | 476 | 292 |
Lone Star Opportunities Investment Fund [Domain] | ' | ' |
Schedule of Other Investments | ' | ' |
Other Investments | 107 | 0 |
Community Development Investment | ' | ' |
Schedule of Other Investments | ' | ' |
Other Investments | $25 | $25 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Loan Composition (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Residential Real Estate Loans: | ' | ' | ' |
One- to four-family | $262,723 | $251,756 | ' |
Home equity | 17,106 | 20,863 | ' |
Total residential real estate loans | 279,829 | 272,619 | ' |
Commercial Loans: | ' | ' | ' |
Commercial real estate | 106,560 | 84,783 | ' |
Real estate construction | 59,648 | 52,245 | ' |
Commercial business | 69,320 | 63,390 | ' |
Total commercial loans | 235,528 | 200,418 | ' |
Consumer Loans: | ' | ' | ' |
Automobile, indirect | 264,671 | 221,907 | ' |
Automobile, direct | 31,598 | 27,433 | ' |
Other consumer | 15,330 | 16,707 | ' |
Total consumer loans | 311,599 | 266,047 | ' |
Total loans | 826,956 | 739,084 | 689,689 |
Plus (less): | ' | ' | ' |
Deferred fees and discounts | 4,370 | 3,087 | ' |
Allowance for loan losses | -6,445 | -6,900 | ' |
Loans, net | $824,881 | $735,271 | ' |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Purchased and pledged loan narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans | ' | ' |
Carrying value of one- to four-family loans purchased, net of discount | $11,944 | $14,193 |
Total outstanding loan balance of all purchased one- to four-family residential loans | 13,619 | 16,353 |
Commercial | ' | ' |
Loans | ' | ' |
Loans Pledged as Collateral | 49,512 | ' |
Consumer | ' | ' |
Loans | ' | ' |
Loans Pledged as Collateral | 249,372 | ' |
Residential Real Estate | ' | ' |
Loans | ' | ' |
Loans Pledged as Collateral | $204,241 | ' |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Impaired Loans (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Impaired Loans | ' | ' |
Loans past due greater than 90 days and still accruing interest | $0 | $0 |
Recorded Balance | 12,973,000 | 20,445,000 |
Unpaid Principal Balance | 12,973,000 | 20,445,000 |
Related Allowance | 521,000 | 278,000 |
Average Recorded Balance | 17,476,000 | 23,904,000 |
Interest Income Recognized | 460,000 | 616,000 |
Additional Funds Committed to be Advanced on Impaired Loans | 0 | 0 |
Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 11,382,000 | 19,464,000 |
Unpaid Principal Balance | 11,382,000 | 19,464,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 16,366,000 | 22,780,000 |
Interest Income Recognized | 452,000 | 602,000 |
Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 1,591,000 | 981,000 |
Unpaid Principal Balance | 1,591,000 | 981,000 |
Related Allowance | 521,000 | 278,000 |
Average Recorded Balance | 1,110,000 | 1,124,000 |
Interest Income Recognized | 8,000 | 14,000 |
One - to four-family | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 7,531,000 | 6,995,000 |
Unpaid Principal Balance | 7,531,000 | 6,995,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 7,468,000 | 7,781,000 |
Interest Income Recognized | 305,000 | 285,000 |
One - to four-family | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Home Equity Loans and Lines of Credit | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 42,000 | 32,000 |
Unpaid Principal Balance | 42,000 | 32,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 14,000 | 50,000 |
Interest Income Recognized | 1,000 | 2,000 |
Home Equity Loans and Lines of Credit | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Commercial real estate | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 2,347,000 | 6,263,000 |
Unpaid Principal Balance | 2,347,000 | 6,263,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 4,237,000 | 6,965,000 |
Interest Income Recognized | 31,000 | 133,000 |
Commercial real estate | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 551,000 | 0 |
Unpaid Principal Balance | 551,000 | 0 |
Related Allowance | 321,000 | 0 |
Average Recorded Balance | 46,000 | 0 |
Interest Income Recognized | 0 | 0 |
Real estate construction | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 4,707,000 |
Unpaid Principal Balance | 0 | 4,707,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 3,171,000 | 6,093,000 |
Interest Income Recognized | 66,000 | 122,000 |
Real estate construction | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Commercial business | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 591,000 | 807,000 |
Unpaid Principal Balance | 591,000 | 807,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 700,000 | 1,301,000 |
Interest Income Recognized | 21,000 | 35,000 |
Commercial business | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 1,040,000 | 981,000 |
Unpaid Principal Balance | 1,040,000 | 981,000 |
Related Allowance | 200,000 | 278,000 |
Average Recorded Balance | 1,064,000 | 1,124,000 |
Interest Income Recognized | 8,000 | 14,000 |
Automobile, indirect | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 824,000 | 606,000 |
Unpaid Principal Balance | 824,000 | 606,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 738,000 | 523,000 |
Interest Income Recognized | 26,000 | 20,000 |
Automobile, indirect | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Automobile, direct | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 32,000 | 51,000 |
Unpaid Principal Balance | 32,000 | 51,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 34,000 | 63,000 |
Interest Income Recognized | 2,000 | 5,000 |
Automobile, direct | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | 0 | 0 |
Other consumer | Impaired loan with no related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 15,000 | 3,000 |
Unpaid Principal Balance | 15,000 | 3,000 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 4,000 | 4,000 |
Interest Income Recognized | 0 | 0 |
Other consumer | Impaired loans with related allowance [Member] | ' | ' |
Impaired Loans | ' | ' |
Recorded Balance | 0 | 0 |
Unpaid Principal Balance | 0 | 0 |
Related Allowance | 0 | 0 |
Average Recorded Balance | 0 | 0 |
Interest Income Recognized | $0 | $0 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Nonaccrual Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Loans | ' | ' |
Non-Accrual loans | $4,344,000 | $7,858,000 |
Loans past due greater than 90 days and still accruing interest | 0 | 0 |
One - to four-family | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 2,050,000 | 1,026,000 |
Home Equity Loans and Lines of Credit | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 42,000 | 0 |
Commercial real estate | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 800,000 | 5,444,000 |
Real estate construction | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 0 | 0 |
Commercial business | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 864,000 | 1,245,000 |
Automobile, indirect | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 558,000 | 143,000 |
Automobile, direct | ' | ' |
Loans | ' | ' |
Non-Accrual loans | 15,000 | 0 |
Other consumer | ' | ' |
Loans | ' | ' |
Non-Accrual loans | $15,000 | $0 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Past due loan aging (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | $4,384 | $5,479 | ' |
60 - 89 Days Past Due | 669 | 1,945 | ' |
90 Days and Greater Past Due | 2,682 | 4,771 | ' |
Total Past Due | 7,735 | 12,195 | ' |
Loans Not Past Due | 819,221 | 726,889 | ' |
Total loans | 826,956 | 739,084 | 689,689 |
One - to four-family | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 1,170 | 3,717 | ' |
60 - 89 Days Past Due | 0 | 1,487 | ' |
90 Days and Greater Past Due | 1,932 | 897 | ' |
Total Past Due | 3,102 | 6,101 | ' |
Loans Not Past Due | 259,621 | 245,655 | ' |
Total loans | 262,723 | 251,756 | ' |
Home Equity Loans and Lines of Credit | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 1 | 260 | ' |
60 - 89 Days Past Due | 0 | 36 | ' |
90 Days and Greater Past Due | 42 | 0 | ' |
Total Past Due | 43 | 296 | ' |
Loans Not Past Due | 17,063 | 20,567 | ' |
Total loans | 17,106 | 20,863 | ' |
Commercial real estate | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 0 | 224 | ' |
60 - 89 Days Past Due | 0 | 27 | ' |
90 Days and Greater Past Due | 120 | 3,730 | ' |
Total Past Due | 120 | 3,981 | ' |
Loans Not Past Due | 106,440 | 80,802 | ' |
Total loans | 106,560 | 84,783 | ' |
Real estate construction | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 876 | 0 | ' |
60 - 89 Days Past Due | 0 | 0 | ' |
90 Days and Greater Past Due | 0 | 0 | ' |
Total Past Due | 876 | 0 | ' |
Loans Not Past Due | 58,772 | 52,245 | ' |
Total loans | 59,648 | 52,245 | ' |
Commercial business | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 0 | 18 | ' |
60 - 89 Days Past Due | 0 | 0 | ' |
90 Days and Greater Past Due | 0 | 0 | ' |
Total Past Due | 0 | 18 | ' |
Loans Not Past Due | 69,320 | 63,372 | ' |
Total loans | 69,320 | 63,390 | ' |
Automobile, indirect | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 2,217 | 1,176 | ' |
60 - 89 Days Past Due | 615 | 346 | ' |
90 Days and Greater Past Due | 558 | 144 | ' |
Total Past Due | 3,390 | 1,666 | ' |
Loans Not Past Due | 261,281 | 220,241 | ' |
Total loans | 264,671 | 221,907 | ' |
Automobile, direct | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 48 | 22 | ' |
60 - 89 Days Past Due | 21 | 30 | ' |
90 Days and Greater Past Due | 15 | 0 | ' |
Total Past Due | 84 | 52 | ' |
Loans Not Past Due | 31,514 | 27,381 | ' |
Total loans | 31,598 | 27,433 | ' |
Other consumer | ' | ' | ' |
Analysis of the age of recorded investment in loans | ' | ' | ' |
30 - 59 Days Past Due | 72 | 62 | ' |
60 - 89 Days Past Due | 33 | 19 | ' |
90 Days and Greater Past Due | 15 | 0 | ' |
Total Past Due | 120 | 81 | ' |
Loans Not Past Due | 15,210 | 16,626 | ' |
Total loans | $15,330 | $16,707 | ' |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Risk category for loans by class for loans individually analyzed for impairment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Loans | ' | ' | ' |
Commercial real estate | $106,560 | $84,783 | ' |
Real estate construction | 59,648 | 52,245 | ' |
Commercial business | 69,320 | 63,390 | ' |
One- to four-family | 262,723 | 251,756 | ' |
Total loans | 826,956 | 739,084 | 689,689 |
Collectively evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
One- to four-family | 244,034 | 236,315 | ' |
Individually evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
Commercial real estate | 106,560 | 84,783 | ' |
Real estate construction | 59,648 | 52,245 | ' |
Commercial business | 69,320 | 63,390 | ' |
One- to four-family | 18,689 | 15,441 | ' |
Total loans | 254,217 | 215,859 | ' |
Pass [Member] | Individually evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
Commercial real estate | 101,134 | 75,698 | ' |
Real estate construction | 59,536 | 47,299 | ' |
Commercial business | 64,155 | 58,488 | ' |
One- to four-family | 15,514 | 12,191 | ' |
Total loans | 240,339 | 193,676 | ' |
Special Mention [Member] | Individually evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
Commercial real estate | 735 | 0 | ' |
Real estate construction | 0 | 0 | ' |
Commercial business | 2,164 | 2,264 | ' |
One- to four-family | 0 | 0 | ' |
Total loans | 2,899 | 2,264 | ' |
Substandard [Member] | Individually evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
Commercial real estate | 4,691 | 9,085 | ' |
Real estate construction | 112 | 4,946 | ' |
Commercial business | 3,001 | 2,638 | ' |
One- to four-family | 3,175 | 3,250 | ' |
Total loans | 10,979 | 19,919 | ' |
Doubtful [Member] | Individually evaluated for impairment | ' | ' | ' |
Loans | ' | ' | ' |
Commercial real estate | 0 | 0 | ' |
Real estate construction | 0 | 0 | ' |
Commercial business | 0 | 0 | ' |
One- to four-family | 0 | 0 | ' |
Total loans | $0 | $0 | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Residential real estate loans collectively evaluated for impairment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate credit risk | ' | ' |
One- to four-family | $262,723 | $251,756 |
Home equity | 17,106 | 20,863 |
Total residential real estate loans | 279,829 | 272,619 |
Collectively evaluated for impairment | ' | ' |
Real Estate credit risk | ' | ' |
One- to four-family | 244,034 | 236,315 |
Home equity | 17,106 | 20,863 |
Total residential real estate loans | 261,140 | 257,178 |
Prime | Collectively evaluated for impairment | ' | ' |
Real Estate credit risk | ' | ' |
One- to four-family | 195,919 | 189,529 |
Home equity | 16,521 | 20,106 |
Total residential real estate loans | 212,440 | 209,635 |
Subprime | Collectively evaluated for impairment | ' | ' |
Real Estate credit risk | ' | ' |
One- to four-family | 48,115 | 46,786 |
Home equity | 585 | 757 |
Total residential real estate loans | $48,700 | $47,543 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Consumer loans by credit score (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans | ' | ' |
Automobile, indirect | $264,671 | $221,907 |
Automobile, direct | 31,598 | 27,433 |
Other consumer | 15,330 | 16,707 |
Total consumer loans | 311,599 | 266,047 |
Risk Tier A | Credit Score Greater than 720 | ' | ' |
Loans | ' | ' |
Automobile, indirect | 135,583 | 113,192 |
Automobile, direct | 23,137 | 19,873 |
Other consumer | 11,453 | 12,408 |
Total consumer loans | 170,173 | 145,473 |
Risk Tier B | Credit Score 690 to 719 | ' | ' |
Loans | ' | ' |
Automobile, indirect | 53,678 | 45,625 |
Automobile, direct | 4,311 | 3,986 |
Other consumer | 2,228 | 2,203 |
Total consumer loans | 60,217 | 51,814 |
Risk Tier C | Credit Score 661 to 689 | ' | ' |
Loans | ' | ' |
Automobile, indirect | 44,732 | 36,247 |
Automobile, direct | 2,320 | 2,023 |
Other consumer | 1,268 | 1,631 |
Total consumer loans | 48,320 | 39,901 |
Risk Tier D | Credit Score 660 and under | ' | ' |
Loans | ' | ' |
Automobile, indirect | 30,678 | 26,843 |
Automobile, direct | 1,830 | 1,551 |
Other consumer | 381 | 465 |
Total consumer loans | $32,889 | $28,859 |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Allowance rollforward (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses | ' | ' | ' |
Beginning balance | $6,900 | $7,908 | $8,932 |
Charge-offs | -3,118 | -4,037 | -4,737 |
Recoveries of loans previously charged-off | 413 | 1,079 | 483 |
Provision for loan losses | 2,250 | 1,950 | 3,230 |
Ending balance | 6,445 | 6,900 | 7,908 |
Individually evaluated for impairment | 521 | 278 | 1,366 |
Collectively evaluated for impairment | 5,924 | 6,622 | 6,542 |
Loans individually evaluated for impairment | 12,973 | 20,445 | 32,870 |
Loans collectively evaluated for impairment | 813,983 | 718,639 | 656,819 |
Total loans | 826,956 | 739,084 | 689,689 |
Residential Real Estate | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses | ' | ' | ' |
Beginning balance | 870 | 1,268 | 1,365 |
Charge-offs | -248 | -103 | -379 |
Recoveries of loans previously charged-off | 38 | 123 | 65 |
Provision for loan losses | 191 | -418 | 217 |
Ending balance | 851 | 870 | 1,268 |
Individually evaluated for impairment | 0 | 0 | 131 |
Collectively evaluated for impairment | 851 | 870 | 1,137 |
Loans individually evaluated for impairment | 7,573 | 7,027 | 9,135 |
Loans collectively evaluated for impairment | 272,256 | 265,592 | 283,365 |
Total loans | 279,829 | 272,619 | 292,500 |
Commercial | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses | ' | ' | ' |
Beginning balance | 3,133 | 3,443 | 4,901 |
Charge-offs | -203 | -1,300 | -1,882 |
Recoveries of loans previously charged-off | 62 | 409 | 89 |
Provision for loan losses | -475 | 581 | 335 |
Ending balance | 2,517 | 3,133 | 3,443 |
Individually evaluated for impairment | 521 | 278 | 1,235 |
Collectively evaluated for impairment | 1,996 | 2,855 | 2,208 |
Loans individually evaluated for impairment | 4,529 | 12,758 | 23,158 |
Loans collectively evaluated for impairment | 230,999 | 187,660 | 149,268 |
Total loans | 235,528 | 200,418 | 172,426 |
Consumer | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses | ' | ' | ' |
Beginning balance | 2,897 | 3,197 | 2,666 |
Charge-offs | -2,667 | -2,634 | -2,476 |
Recoveries of loans previously charged-off | 313 | 547 | 329 |
Provision for loan losses | 2,534 | 1,787 | 2,678 |
Ending balance | 3,077 | 2,897 | 3,197 |
Individually evaluated for impairment | 0 | 0 | 0 |
Collectively evaluated for impairment | 3,077 | 2,897 | 3,197 |
Loans individually evaluated for impairment | 871 | 660 | 577 |
Loans collectively evaluated for impairment | 310,728 | 265,387 | 224,186 |
Total loans | $311,599 | $266,047 | $224,763 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Troubled debt restructuring summary (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Troubled Debt Restructurings | ' | ' |
Troubled Debt Restructuring Loans | $9,239 | $18,250 |
Total performing troubled debt restructuring | 7,862 | 12,044 |
Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled Debt Restructuring Loans | 6,276 | 6,892 |
Troubled debt restructuring in non-accrual status | 795 | 892 |
Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled Debt Restructuring Loans | 2,581 | 10,841 |
Troubled debt restructuring in non-accrual status | 483 | 5,314 |
Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled Debt Restructuring Loans | 382 | 517 |
Troubled debt restructuring in non-accrual status | $99 | $0 |
Recovered_Sheet3
Loans and Allowance for Loan Losses - TDR method of concession (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | $403 | $280 |
Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 355 | 0 |
Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 48 | 280 |
Interest rate reduction | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 378 | 222 |
Interest rate reduction | Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Interest rate reduction | Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 355 | 0 |
Interest rate reduction | Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 23 | 222 |
Loan maturity extension | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 25 | 37 |
Loan maturity extension | Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Loan maturity extension | Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Loan maturity extension | Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 25 | 37 |
Forbearance | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Forbearance | Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Forbearance | Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Forbearance | Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Principal reduction | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 21 |
Principal reduction | Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Principal reduction | Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | 0 | 0 |
Principal reduction | Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Troubled debt restructuring loans, restructured during the current period | $0 | $21 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - TDR loans modified during the period (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Troubled Debt Restructurings | ' | ' |
Number of concessions granted for TDR loans | 4 | 18 |
Pre-Modification Outstanding Recorded Balance | $430 | $292 |
Post-Modification Outstanding Recorded Balance | 430 | 290 |
Residential Real Estate | ' | ' |
Troubled Debt Restructurings | ' | ' |
Number of concessions granted for TDR loans | 0 | 0 |
Pre-Modification Outstanding Recorded Balance | 0 | 0 |
Post-Modification Outstanding Recorded Balance | 0 | 0 |
Commercial | ' | ' |
Troubled Debt Restructurings | ' | ' |
Number of concessions granted for TDR loans | 1 | 0 |
Pre-Modification Outstanding Recorded Balance | 371 | 0 |
Post-Modification Outstanding Recorded Balance | 371 | 0 |
Consumer | ' | ' |
Troubled Debt Restructurings | ' | ' |
Number of concessions granted for TDR loans | 3 | 18 |
Pre-Modification Outstanding Recorded Balance | 59 | 292 |
Post-Modification Outstanding Recorded Balance | $59 | $290 |
Recovered_Sheet5
Loans and Allowance for Loan Losses - TDR Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Troubled Debt Restructuring Loans [Abstract] | ' | ' |
Troubled Debt Restructuring Loans | $9,239 | $18,250 |
Specific Reserve for Troubled Debt Restructurings | 72 | 0 |
Additional Funds Committed to be Advanced on Troubled Debt Restructurings | $0 | $0 |
Recovered_Sheet6
Loans and Allowance for Loan Losses - Non-performing assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Nonperforming assets | ' | ' |
Total other real estate owned and foreclosed assets | $1,027 | $5,163 |
Non-Accrual loans | 4,344 | 7,858 |
Nonperforming Assets | 5,371 | 13,021 |
Non-accrual loans/Total loans | 0.53% | 1.06% |
Non-performing assets/Total assets | 0.39% | 1.04% |
Residential Real Estate | ' | ' |
Nonperforming assets | ' | ' |
Other real estate owned | 107 | 819 |
Commercial | ' | ' |
Nonperforming assets | ' | ' |
Other real estate owned | 70 | 3,950 |
Consumer | ' | ' |
Nonperforming assets | ' | ' |
Foreclosed assets | $850 | $394 |
Mortgage_Servicing_Rights_Mort1
Mortgage Servicing Rights Mortgage Servicing Rights (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Mortgage Servicing Rights [Abstract] | ' | ' | ' |
Carrying Value of Mortgage Servicing Rights, before valuation allowance, Balance beginning of the year | $1,370 | $1,379 | $1,352 |
Additions | 445 | 410 | 351 |
Amortization | -314 | -419 | -324 |
Carrying Value of Mortgage Servicing Rights, before valuation allowance, Ending Balance | 1,501 | 1,370 | 1,379 |
Valuation Allowance, Beginning balance | -361 | -322 | -110 |
Impairment charge (Recovery) | 333 | -39 | -212 |
Valuation Allowance, Ending Balance | -28 | -361 | -322 |
Carrying value of mortgage servicing rights | 1,473 | 1,009 | 1,057 |
Fair value of mortgage servicing rights | 1,473 | 1,009 | 1,057 |
Mortgage loans serviced | 189,084 | 157,953 | 132,721 |
Servicing Fees, Net | $463 | $368 | $345 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Rate Lock Commitments | ' | ' |
Derivatives, Fair Value | ' | ' |
Derivative, Notional Amount | $3,453 | $10,805 |
Interest Rate Lock Commitments, at Fair Value | 56 | 264 |
(Loss) Gain on Interest Rate Lock Commitments | -208 | 264 |
Forward Loan Sales Commitments | ' | ' |
Derivatives, Fair Value | ' | ' |
Forward Loan Sales Commitments, at Fair Value | $0 | $0 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Land | $6,375 | $6,699 | ' |
Buildings and Improvements | 47,806 | 46,840 | ' |
Furniture and equipment | 32,889 | 32,581 | ' |
Leasehold improvements | 1,849 | 3,044 | ' |
Property, Plant and Equipment, Gross | 88,919 | 89,164 | ' |
Accumulated amortization and depreciation | -47,407 | -46,038 | ' |
Premises and equipment, net | 41,512 | 43,126 | ' |
Depreciation, Depletion and Amortization | $3,315 | $3,453 | $4,236 |
Premises_and_Equipment_Operati
Premises and Equipment - Operating Lease (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
2014 | $595 | ' | ' |
2015 | 568 | ' | ' |
2016 | 480 | ' | ' |
2017 | 505 | ' | ' |
2018 | 500 | ' | ' |
Thereafter | 913 | ' | ' |
Total | 3,561 | ' | ' |
Rent Expense | $634 | $574 | $488 |
Premises_and_Equipment_Premise
Premises and Equipment Premises and Equipment - Operating Lease- lessor (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
2014 | $2,782 | ' | ' |
2015 | 2,354 | ' | ' |
2016 | 1,849 | ' | ' |
2017 | 1,122 | ' | ' |
2018 | 460 | ' | ' |
Thereafter | 514 | ' | ' |
Lease Payments Receivable | 9,081 | ' | ' |
Lease Revenue | $2,703 | $2,553 | $2,660 |
Other_Real_Estate_Owned_and_Ot2
Other Real Estate Owned and Other Foreclosed Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Real Estate Owned [Line Items] | ' | ' | ' |
Ending Balance | $177 | $4,769 | ' |
Other Real Estate Owned | ' | ' | ' |
Other Real Estate Owned [Line Items] | ' | ' | ' |
Beginning Balance | 4,769 | 6,683 | 14,793 |
Assets transferred in | 184 | 1,958 | 3,038 |
Net proceeds from sales | -4,573 | -2,775 | -8,230 |
Net gain (loss) on sales | 24 | -94 | -439 |
Write-downs | -227 | -1,003 | -2,479 |
Ending Balance | 177 | 4,769 | 6,683 |
Other Foreclosed Assets | ' | ' | ' |
Other Real Estate Owned [Line Items] | ' | ' | ' |
Beginning Balance | 394 | 227 | 207 |
Assets transferred in | 3,019 | 3,100 | 2,633 |
Net proceeds from sales | -2,573 | -2,921 | -2,600 |
Net gain (loss) on sales | 10 | -12 | -13 |
Ending Balance | $850 | $394 | $227 |
Deposits_Major_type_Details
Deposits- Major type (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Noninterest-bearing | $58,071 | $47,331 |
Interest-bearing demand | 146,818 | 139,976 |
Savings | 105,030 | 105,946 |
Money Market | 233,918 | 229,537 |
Certificates of deposit | 269,737 | 293,512 |
Total deposits | 813,574 | 816,302 |
Overdrawn deposit accounts | $318 | $313 |
Deposits_Interest_expense_on_d
Deposits - Interest expense on deposits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deposits [Abstract] | ' | ' | ' |
Interest-bearing demand | $100 | $120 | $142 |
Savings | 48 | 113 | 481 |
Money market | 534 | 539 | 448 |
Certificates of deposit | 4,389 | 5,509 | 6,285 |
Total interest expense on deposits | 5,071 | 6,281 | 7,356 |
Certificates of deposit in excess of $100 | $121,751 | $117,893 | ' |
Deposits_Certificate_of_deposi
Deposits - Certificate of deposit maturity (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
2013 | $142,518 | ' |
2014 | 61,158 | ' |
2015 | 29,802 | ' |
2016 | 7,341 | ' |
2017 | 28,918 | ' |
Thereafter | 0 | ' |
Certificates of deposit | 269,737 | 293,512 |
Brokered time deposits | 1,969 | 298 |
FDIC Insurance Limit | $250 | ' |
Other_Secured_Borrowings_Narra
Other Secured Borrowings - Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument | ' | ' |
FHLB Advances | $362,000 | $207,000 |
Federal Funds Purchased | 0 | 11,000 |
Securities Sold under Agreements to Repurchase | 2,000 | 8,000 |
Federal Funds Lines with other financial institutions | 55,000 | ' |
Federal Home Loan Bank Borrowings [Member] | ' | ' |
Debt Instrument | ' | ' |
FHLB Advances | 362,000 | 207,000 |
FHLB Advances, Interest Rate, Stated Percentage Rate Range, Minimum | 0.15% | 0.25% |
FHLB Advances, Interest Rate, Stated Percentage Rate Range, Maximum | 3.63% | 3.63% |
FHLB Advances, Weighted Average Interest Rate | 0.80% | 1.14% |
FHLB Borrowing Limit | 617,381 | 541,782 |
Securities Pledged as Collateral | 161,553 | 28,745 |
Federal Funds Purchased | 0 | 11,000 |
Fed Funds Purchased, Interest Rate, Stated Percentage | ' | 0.26% |
Repurchase Agreements [Member] | ' | ' |
Debt Instrument | ' | ' |
Securities Pledged as Collateral | 2,192 | 8,990 |
Debt Instrument Maturity Date (years) | '5 years | ' |
Securities Sold under Agreements to Repurchase | 2,000 | 8,000 |
Payments for Securities Sold under Agreements to Repurchase | 6,000 | ' |
Borrowings Maturing in 2015 | 2,000 | ' |
Federal Reserve Bank [Member] | ' | ' |
Debt Instrument | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 298,883 | ' |
Federal Reserve Bank [Member] | Commercial Loan [Member] | ' | ' |
Debt Instrument | ' | ' |
Loans Pledged as Collateral | 49,511 | ' |
Federal Reserve Bank [Member] | Consumer Loan [Member] | ' | ' |
Debt Instrument | ' | ' |
Loans Pledged as Collateral | $249,372 | ' |
Other_Secured_Borrowings_FHLB_
Other Secured Borrowings - FHLB Advance Maturities Table (Details) (Federal Home Loan Bank Advances, USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Federal Home Loan Bank Advances | ' |
Maturity Schedule | ' |
2014 | $144,167 |
2015 | 156,167 |
2016 | 53,333 |
2017 | 8,333 |
2018 | 0 |
Thereafter | 0 |
Total Advances from Federal Home Loan Banks | $362,000 |
Other_Secured_Borrowings_FHLB_1
Other Secured Borrowings - FHLB Advances and Other Borrowings (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument | ' | ' |
FHLB Advances | $362,000 | $207,000 |
Securities Sold under Agreements to Repurchase | 2,000 | 8,000 |
Other Borrowings | 0 | 11,000 |
Federal Home Loan Bank Advances | ' | ' |
Debt Instrument | ' | ' |
Maximum Balance | 417,000 | 289,500 |
Average Balance | 296,721 | 255,388 |
Weighted Average Interest Rate During the Period | 0.84% | 1.08% |
Weighted Average Interest Rate, End of Period | 0.80% | 1.14% |
Securities Sold under Agreements to Repurchase [Member] | ' | ' |
Debt Instrument | ' | ' |
Maximum Balance | 2,000 | 58,000 |
Average Balance | 2,214 | 36,279 |
Weighted Average Interest Rate During the Period | 2.89% | 4.92% |
Weighted Average Interest Rate, End of Period | 2.82% | 3.08% |
Other Secured Borrowings | ' | ' |
Debt Instrument | ' | ' |
Maximum Balance | 53,000 | 39,500 |
Average Balance | $10,307 | $6,273 |
Weighted Average Interest Rate During the Period | 0.15% | 0.18% |
Weighted Average Interest Rate, End of Period | 0.00% | 0.26% |
Employee_Benefit_Plans_Schedul
Employee Benefit Plans- Schedule of Changes in Projected Benefit Obligations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Projected Benefit Obligation | $5,513 | $5,415 | ' |
Interest Cost | 227 | 256 | 250 |
Actuarial Loss | -1,034 | 497 | ' |
Benefits Paid | -216 | -3 | ' |
Effect of settlement | 0 | -652 | ' |
Projected Benefit Obligation | 4,490 | 5,513 | 5,415 |
Accumulated benefit obligation | $4,490 | $5,513 | ' |
Employee_Benefit_Plans_Schedul1
Employee Benefit Plans - Schedule of Changes in Fair Value of Plan Assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' |
Fair Value of Plan Assets as of January 1, | $3,765 | $3,186 |
Actual Return on Plan Assets | 1,011 | 500 |
Employer contributions | 0 | 734 |
Benefits Paid | -216 | -3 |
Effect of settlement | 0 | -652 |
Fair Value of Plan Assets as pf December 31, | 4,560 | 3,765 |
Funded Status as of December 31, | $70 | ($1,748) |
Employee_Benefit_Plans_Periodi
Employee Benefit Plans - Periodic Pension Cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefits and Share-based Compensation [Abstract] | ' | ' | ' |
Interest Cost on projected benefit obligation | $227 | $256 | $250 |
Expected return on assets | -296 | -247 | -251 |
Amortization of net loss | 193 | 132 | 65 |
Effect of settlement recognition | 0 | 351 | 178 |
Net periodic pension cost | $124 | $492 | $242 |
Employee_Benefit_Plans_Pension
Employee Benefit Plans- Pension plan recognized as a component of Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Net actuarial (loss) gain | $1,748 | ($244) | ($1,649) |
Amortization of net loss | 193 | 132 | 65 |
Effect of settlement recognition | 0 | 351 | 178 |
Total recognized in other comprehensive income (loss) | 1,941 | 239 | -1,406 |
Deferred tax (expense) benefit | -660 | -81 | 478 |
Other comprehensive income (loss), net of tax | $1,281 | $158 | ($928) |
Employee_Benefit_Plans_Net_per
Employee Benefit Plans- Net periodic benefit cost (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Deferred Tax Benefit | $996 | $1,494 | $1,664 |
Pension Plans | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Net acturial loss reported to be recognized in the next year | 46 | ' | ' |
Net loss | -1,025 | -2,967 | ' |
Deferred Tax Benefit | 348 | 1,009 | ' |
Amounts included in other comprehensive loss, net of tax | ($677) | ($1,958) | ' |
Employee_Benefit_Plans_Assumpt
Employee Benefit Plans- Assumptions Used (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Defined Benefit Plan, Weighted-average Assumptions Used Calculating Benefit Obligation, Discount Rate | 5.25% | 4.25% | 4.75% |
Defined Benefit Plan, Weighted-average Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Defined Benefit Plan, Weighted-average Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 4.25% | 4.75% | 6.00% |
Defined Benefit Plan, Weighted-average Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 8.50% | 8.00% | 7.50% |
Defined Benefit Plan, Weighted-average Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 0.00% | 0.00% | 0.00% |
Employee_Benefit_Plan_Allocati
Employee Benefit Plan - Allocation of Plan Assets (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | ' |
Actual Plan Asset Allocations | 100.00% | 100.00% |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 80.00% | ' |
Actual Plan Asset Allocations | 84.00% | 81.00% |
Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Target Plan Asset Allocations | 20.00% | ' |
Actual Plan Asset Allocations | 16.00% | 19.00% |
Employee_Benefit_Plans_Defined
Employee Benefit Plans- Defined benefit plans fair value hierarchy (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Employer contributions | $0 | $734 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 4,560 | 3,765 | 3,186 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 0 | ' | ' |
Mutual funds [Member] | Fair Value, Level 1 Inputs | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 3,459 | 2,143 | ' |
Pooled separate accounts [Member] | Fair Value, Level 2 Inputs | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $1,101 | $1,622 | ' |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans- Expected benefit payments (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Compensation and Retirement Disclosure [Abstract] | ' |
2014 | $610 |
2015 | 110 |
2016 | 100 |
2017 | 84 |
2018 | 280 |
Years 2019 - 2023 | $1,360 |
Employee_Benefit_Plans_Share_b
Employee Benefit Plans - Share based compensation Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation | ' | ' | ' |
Equity Incentive Plan approval date | 'May 24, 2011 | ' | ' |
IPO Shares Authorized for Stock Options | 7.00% | ' | ' |
IPO Shares Authorized for Restricted Stock | 7.00% | ' | ' |
Maximum Restricted Stock Awards | 4.00% | ' | ' |
Share-based Compensation | $1,827 | $1,331 | $308 |
Stock Options | ' | ' | ' |
Share-based Compensation | ' | ' | ' |
Number of Shares Authorized | 1,190,250 | ' | ' |
Restricted Stock | ' | ' | ' |
Share-based Compensation | ' | ' | ' |
Number of Shares Authorized | 476,100 | ' | ' |
Employee_Benefit_Plans_Restric
Employee Benefit Plans - Restricted Shares Narrative (Details) (Restricted Stock, USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation | ' |
Number of Shares Authorized | 476,100 |
Total Shares Issued | 295,538 |
Unrecognized compensation expense related to non-vested shares of restricted stock | $2,665 |
Weighted-average period which expense is expected to be recognize | '3 years 4 months 6 days |
Officer | ' |
Share-based Compensation | ' |
Annual vesting percentage | 20.00% |
Forfeiture rate | 8.40% |
Director | ' |
Share-based Compensation | ' |
Minimum vesting period | 20.00% |
Maximum vesting period | 33.30% |
Forfeiture rate | 0.00% |
Employee_Benefit_Plans_Restric1
Employee Benefit Plans - Restricted Shares (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Benefits and Share-based Compensation [Abstract] | ' | ' |
Shares, Non-vested at Beginning of Period | 254,323 | 118,738 |
Shares, Granted | 11,000 | 165,800 |
Shares, Vested | -62,608 | -29,612 |
Shares, Forfeited | -23,132 | -603 |
Shares, Non-vested at End of Period | 179,583 | 254,323 |
Weighted Average Grant Date Fair Value, Non-vested at Beginning of Period | $18.69 | $14.15 |
Weighted Average Grant Date Fair Value, Granted | $22.81 | $21.11 |
Weighted Average Grant Date Fair Value, Vested | $17.84 | $14.15 |
Weighted Average Grant Date Fair Value, Forfeited | $19.19 | $14.15 |
Weighted Average Grant Date Fair Value, Non-vested at End of Period | $19.18 | $18.69 |
Employee_Benefit_Plans_Stock_O
Employee Benefit Plans - Stock Option Narrative (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation | ' | ' |
Minimum Vesting Period | '3 years | ' |
Maximum Vesting Period | '5 years | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $8.58 |
Stock Options | ' | ' |
Share-based Compensation | ' | ' |
Contractual Term in years for stock options | '10 years | ' |
Unrecognized compensation expense related to non-vested shares | 1,265 | ' |
Weighted-average period which expense is expected to be recognize | '2 years 10 months 21 days | ' |
Employee_Benefit_Plans_Stock_O1
Employee Benefit Plans - Stock Options valuation assumptions (Details) (Stock Options) | 12 Months Ended |
Dec. 31, 2012 | |
Share-based Compensation | ' |
Risk-free interest rate | 1.13% |
Expected stock price volatility | 36.72% |
Expected dividend | 0.00% |
Officer | ' |
Share-based Compensation | ' |
Expected term of stock options | '7 years 6 months |
Forfeiture rate | 17.84% |
Director | ' |
Share-based Compensation | ' |
Expected term of stock options | '7 years 6 months |
Forfeiture rate | 0.00% |
Employee_Benefit_Plans_Stock_O2
Employee Benefit Plans - Stock Options activity (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Benefits and Share-based Compensation [Abstract] | ' | ' | ' |
Shares, Outstanding at Beginning of Period | 505,665 | 373,552 | ' |
Shares, Granted | 0 | 152,200 | ' |
Shares, Exercised | -38,997 | -9,873 | 0 |
Shares, Forfeited | -68,557 | -10,214 | ' |
Shares, Expired | -3,178 | ' | ' |
Shares, Outstanding at End of Period | 394,933 | 505,665 | 373,552 |
Shares, Fully vested and expected to vest | 368,573 | ' | ' |
Shares, Exercisable at End of Period | 139,135 | ' | ' |
Weighted Average Exercise Price, Outstanding at Beginning of Period | $16.13 | $14.15 | ' |
Weighted Average Exercise Price, Granted | $0 | $20.86 | ' |
Weighted Average Exercise Price, Exercised | $14.15 | $14.15 | ' |
Weighted Average Exercise Price, Forfeited | $17.29 | $16.18 | ' |
Weighted Average Exercise Price, Expired | $14.97 | ' | ' |
Weighted Average Exercise Price, Outstanding at End of Period | $16.13 | $16.13 | $14.15 |
Weighted Average Exercise Price, Fully vested and expected to vest | $16.10 | ' | ' |
Weighted Average Exercise Price, Exercisable at End of Period | $15.45 | ' | ' |
Weighted-Average Remaining Contractual Term (years), Outstanding at Beginning of Period | '9 years 5 months 15 days | '9 years 5 months 15 days | ' |
Weighted Average Remaining Contractual Term, Granted | ' | '9 years 6 months 12 days | ' |
Weighted-Average Remaining Contractual Term (years), Outstanding at End of Period | '7 years 6 months 15 days | '9 years 5 months 15 days | '9 years 5 months 15 days |
Weighted Average Remaining Contractual Term, Fully vested and expected to vest | '7 years 6 months 7 days | ' | ' |
Weighted Average Remaining Contractual Term, Exercisable at End of Period | '7 years 0 months 7 days | ' | ' |
Aggregate Intrinsic Value, Outstanding at Beginning of Period | $579 | $579 | ' |
Aggregate Intrinsic Value, Granted | 0 | 346 | ' |
Aggregate Intrinsic Value, Exercised | -341 | -62 | ' |
Aggregate Intrinsic Value, Forfeited | -280 | -71 | ' |
Aggregate Intrinsic Value, Expired | -20 | ' | ' |
Aggregate Intrinsic Value, Outstanding at End of Period | 2,088 | 579 | 579 |
Aggregate Intrinsic Value, Fully vested and expected to vest | 1,961 | ' | ' |
Aggregate Intrinsic Value, Exercisable at End of Period | $830 | ' | ' |
Employee_Benefit_Plans_401k_Pl
Employee Benefit Plans - 401(k) Plan Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Defined Contribution Savings Plan, Cost Recognized | $612 | $575 | $557 |
Employee_Benefit_Plans_Employe
Employee Benefit Plans - Employee Stock Ownership Plan (ESOP) Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Stock Ownership Plan (ESOP) | ' | ' | ' |
ESOP plan effective date | 'January 1, 2010 | ' | ' |
ESOP, minimum years of service of participant | 1 | ' | ' |
ESOP, minimum participant age | 21 | ' | ' |
Percentage of shares purchased by the bank for the ESOP plan | 8.00% | ' | ' |
Employee Stock Ownership Plan (ESOP), Shares in ESOP | 952,200 | 952,200 | ' |
Note payable to the Company from the ESOP | $9,522 | ' | ' |
Wall Street Journal Prime Rate | 3.25% | 3.25% | ' |
ESOP compensation expense | $893 | $792 | $567 |
Number of equal annual payments of ESOP loan | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) | ' | ' | ' |
ESOP debt structure | '25 | ' | ' |
Amount of equal annual payments of ESOP loan | ' | ' | ' |
Employee Stock Ownership Plan (ESOP) | ' | ' | ' |
ESOP debt structure | '561 | ' | ' |
Employee_Benefit_Plans_Employe1
Employee Benefit Plans - Employee Stock Ownership Plan (ESOP) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Employee Benefits and Share-based Compensation [Abstract] | ' | ' |
Allocated Shares | 152,352 | 114,264 |
Unearned shares | 799,848 | 837,936 |
Total ESOP shares | 952,200 | 952,200 |
Fair Value of unearned ESOP shares | $17,101 | $19,381 |
Regulatory_Matters_Capital_Rat
Regulatory Matters- Capital Ratio Requirements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital to risk-weighted assets | $196,115 | $185,856 |
Tier One Capital | 189,224 | 178,557 |
OmniAmerican Bank | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital to risk-weighted assets | 196,115 | 185,856 |
Capital to Risk Weighted Assets | 21.50% | 23.23% |
Capital Required for Capital Adequacy | 72,957 | 64,003 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | 91,197 | 80,004 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital | 189,224 | 178,557 |
Tier One Risk Based Capital to Risk Weighted Assets | 20.75% | 22.32% |
Tier One Risk Based Capital Required for Capital Adequacy | 36,479 | 32,002 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized | 54,718 | 48,002 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Capital | 189,224 | 178,557 |
Tier One Capital to Average Assets | 13.60% | 14.24% |
Tier One Capital Required for Capital Adequacy | 55,638 | 50,143 |
Tier One Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier One Capital Required to be Well Capitalized | 69,548 | 62,678 |
Tier One Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Consolidated | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total risk-based capital to risk-weighted assets | 213,553 | 203,734 |
Capital to Risk Weighted Assets | 23.41% | 25.47% |
Capital Required for Capital Adequacy | 72,948 | 63,997 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | 91,185 | 79,996 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital | 206,662 | 196,435 |
Tier One Risk Based Capital to Risk Weighted Assets | 22.66% | 24.56% |
Tier One Risk Based Capital Required for Capital Adequacy | 36,474 | 31,998 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized | 54,711 | 47,998 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Capital | 206,662 | 196,435 |
Tier One Capital to Average Assets | 14.86% | 15.67% |
Tier One Capital Required for Capital Adequacy | 55,633 | 50,140 |
Tier One Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier One Capital Required to be Well Capitalized | $69,542 | $62,674 |
Tier One Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Regulatory_Matters_Regulatory_
Regulatory Matters Regulatory Matters - Narrative (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Regulatory Capital Requirements [Abstract] | ' | ' |
Percentage of assets that must be maintained in housing-related finance required by the Home Owners' Loan Act (HOLA) | 65.00% | ' |
Qualified thrift lender test | 80.60% | 83.50% |
Regulatory_Matters_Requlatory_
Regulatory Matters Requlatory Matters- Reconcilation of GAAP Equity (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
GAAP equity [Abstract] | ' | ' |
Consolidated GAAP equity | $207,142 | $205,578 |
Consolidated Equity in Excess of Bank Equity | -17,438 | -17,878 |
Bank GAAP Equity | 189,704 | 187,700 |
Deferred tax assets disallowed for regulatory capital | -2,764 | -3,760 |
Unrealized loss (gain) on securities available for sale for Regulatory Capital | 1,754 | -7,240 |
Unrealized Loss on Pension Plan for regulatory capital | 677 | 1,958 |
Servicing Assets Disallowed for Regulatory Capital | -147 | -101 |
Tier One Capital | 189,224 | 178,557 |
Loans and Leases Receivable, Allowance | 6,445 | 6,900 |
Reserve for Unfunded Loan Commitments | 446 | 278 |
Unrealized Gains on Equity Securities | 0 | 121 |
Total Regulatory Capital | $196,115 | $185,856 |
Income_Taxes_Components_of_Inc
Income Taxes- Components of Income Tax Expense (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current Federal Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | $2,279 | $1,338 | $164 |
Current State and Local Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | 51 | 46 | 16 |
Current Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,330 | 1,384 | 180 |
Deferred Federal Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | 996 | 1,494 | 1,664 |
Deferred State and Local Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Deferred Tax Benefit | ' | ' | ' | ' | ' | ' | ' | ' | 996 | 1,494 | 1,664 |
Total income tax expense | $791 | $1,116 | $334 | $1,085 | $695 | $1,134 | $672 | $377 | $3,326 | $2,878 | $1,844 |
Income_Taxes_Income_Taxes_Defe
Income Taxes Income Taxes- Deferred Tax Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Allowance for Loan Loss | $1,719 | $1,873 |
Premises and Equipment | 0 | 361 |
Net Operating Loss | 954 | 0 |
Pension Plan | 996 | 1,610 |
Other Real Estate Owned | 10 | 381 |
Interest on Non-accrual Loans | 169 | 373 |
Accrued Expenses | 351 | 200 |
Deferred Loan Fees | 230 | 222 |
Stock-based Compensation | 323 | 242 |
Deferred Tax Assets, Gross | 4,752 | 5,262 |
Servicing Rights | -501 | -343 |
Deferred Tax Liabilities, Investments | 0 | -3,730 |
FHLB Stock | -63 | -51 |
Deferred Tax Liabilities, Property, Plant and Equipment | -33 | 0 |
Deferred Tax Liabilities, Other | -89 | -99 |
Deferred Tax Liabilities, Gross | -686 | -4,223 |
Deferred Tax Assets, Net | $4,066 | $1,039 |
Income_Taxes_Income_Taxes_Effe
Income Taxes Income Taxes- Effective Income Tax Rate Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% | 34.00% |
Federal statutory rate times financial statement income | ' | ' | ' | ' | ' | ' | ' | ' | $3,316 | $2,916 | $1,976 |
Income Tax Reconciliation, State and Local Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 34 | 30 | 10 |
Income Tax Reconciliation, Tax Exempt Income | ' | ' | ' | ' | ' | ' | ' | ' | -485 | -397 | -319 |
Income Tax Reconciliation, Nondeductible Expense | ' | ' | ' | ' | ' | ' | ' | ' | 461 | 329 | 177 |
Total income tax expense | $791 | $1,116 | $334 | $1,085 | $695 | $1,134 | $672 | $377 | $3,326 | $2,878 | $1,844 |
Effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 34.10% | 33.60% | 31.70% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transactions [Abstract] | ' | ' |
Loans to related parties, Balance at beginning of year | $1,940 | ' |
New loans | 0 | ' |
Repayments | -547 | ' |
Loans to related parties, Balance at end of year | 1,393 | ' |
Related Party Deposit Liabilities | $1,106 | $1,018 |
Fair_Value_Measurements_Intere
Fair Value Measurements - Interest Rate Lock Commitments Narrative (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Interest Rate Lock Commitments Narrative [Abstract] | ' | ' |
Fair Value of Servicing Rights as a Percentage of Loans with a Term of 180 Months | 1.00% | 0.84% |
Fair Value of Servicing Rights as a Percentage of Loans with a Term of 360 Months and an interest rate of 4.5% or less | 1.31% | 0.82% |
Fair Value of Servicing Rights as a Percentage of Loans with a Term of 360 Months and an interest rate greater than 4.5% | 1.08% | 0.82% |
Estimated Closure Rate of Interest Rate Lock Commitments | 77.10% | 72.10% |
Fair_Value_Measurements_Assets
Fair Value Measurements- Assets and Liabilities Measured on a Recurring basis (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | $430,775 | $383,909 |
U. S. government sponsored mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 279,588 | 199,730 |
U. S. government sponsored mortgage-backed securities | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 279,588 | 199,730 |
U. S. government sponsored mortgage-backed securities | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
U. S. government sponsored mortgage-backed securities | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 279,588 | 199,730 |
U. S. government sponsored mortgage-backed securities | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
U. S. government sponsored collateralized mortgage obligations | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 140,576 | 172,896 |
U. S. government sponsored collateralized mortgage obligations | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 140,576 | 172,896 |
U. S. government sponsored collateralized mortgage obligations | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
U. S. government sponsored collateralized mortgage obligations | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 140,576 | 172,896 |
U. S. government sponsored collateralized mortgage obligations | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
Agency bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 4,538 | 5,015 |
Agency bonds | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 4,538 | 5,015 |
Agency bonds | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
Agency bonds | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 4,538 | 5,015 |
Agency bonds | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
Municipal obligations | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 170 | ' |
Municipal obligations | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | ' |
Municipal obligations | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 170 | ' |
Municipal obligations | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | ' |
Other equity securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 5,903 | 6,268 |
Other equity securities | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 5,903 | 6,268 |
Other equity securities | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
Other equity securities | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 5,903 | 6,268 |
Other equity securities | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Available-for-sale Securities Fair Value | 0 | 0 |
Interest rate lock commitments | Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Interest Rate Lock Commitments | 56 | 264 |
Interest rate lock commitments | Fair Value, Measurements, Recurring | Fair Value, Level 1 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Interest Rate Lock Commitments | 0 | 0 |
Interest rate lock commitments | Fair Value, Measurements, Recurring | Fair Value, Level 2 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Interest Rate Lock Commitments | 0 | 0 |
Interest rate lock commitments | Fair Value, Measurements, Recurring | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Interest Rate Lock Commitments | $56 | $264 |
Fair_Value_Measurements_Fair_v
Fair Value Measurements - Fair value of Impaired Loans Remeasured (Details) (Fair Value, Measurements, Nonrecurring [Member], Fair Value, Level 3 Inputs, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Remeasured Impaired Loans, Recorded Investment | $1,591 | $981 |
Remeasured Impaired Loans, Specific Reserve | -521 | -278 |
Impaired Loans Fair Value | $1,070 | $703 |
Fair_Value_Measurements_Mortga
Fair Value Measurements - Mortgage Servicing Rights (Details) (Fair Value, Measurements, Nonrecurring [Member], Fair Value, Level 3 Inputs, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Mortgage servicing rights at fair value | $1,473 | $1,009 |
Fair_Value_Measurements_Other_
Fair Value Measurements - Other Real Estate Owned Remeasured and Reported at Fair Value (Details) (Fair Value, Level 3 Inputs, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Level 3 Inputs | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Carrying value of other real estate owned prior to remeasurement | $1,631 | $7,571 |
Less: Charge-offs recognized in the allowance for loan losses at initial acquisition | -18 | -244 |
Add: Fair value adjustments recognized in noninterest income at initial acquisition | 43 | 0 |
Less: Subsequent write-downs included in net loss on write-down of other real estate owned | -227 | -1,065 |
Less: Sales of other real estate owned | -1,252 | -1,493 |
Carrying value of remeasured other real estate owned at end of period | $177 | $4,769 |
Fair_Value_Measurements_Level_
Fair Value Measurements - Level 3 Asset Valuation Techniques and Unobservable Inputs (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Assets, Fair Value Disclosure | ' | ' | ' |
Mortgage servicing rights | $1,473 | $1,009 | $1,057 |
Other Real Estate | 177 | 4,769 | ' |
Discounted Cash Flow Valuation Technique | ' | ' | ' |
Assets, Fair Value Disclosure | ' | ' | ' |
Impaired Loans, Net of Allowance | 840 | 703 | ' |
Mortgage servicing rights | 1,473 | 1,009 | ' |
Third Party Appraisal Valuation Technique | ' | ' | ' |
Assets, Fair Value Disclosure | ' | ' | ' |
Impaired Loans, Net of Allowance | 230 | ' | ' |
Other Real Estate | $177 | $4,769 | ' |
Impaired Loans, Net of Allowance | Discounted Cash Flow Valuation Technique | ' | ' | ' |
Unobservable Inputs | ' | ' | ' |
Interest Rate, Range Minimum | 1.50% | 6.30% | ' |
Interest Rate, Range Maximum | 7.00% | 7.00% | ' |
Interest Rate, Range Average | 4.90% | 6.50% | ' |
Loan Term (in months), Range Minimum | 60 | 60 | ' |
Loan Term (in months), Range Maximum | 120 | 85 | ' |
Loan Term (in months), Range Average | 91 | 76 | ' |
Impaired Loans, Net of Allowance | Third Party Appraisal Valuation Technique | ' | ' | ' |
Unobservable Inputs | ' | ' | ' |
Discount of Market Value, Range Minimum | 0.00% | ' | ' |
Discount of Market Value, Range Maximum | 0.00% | ' | ' |
Discount of Market Value, Range Average | 0.00% | ' | ' |
Estimated Marketing Costs, Range Minimum | 6.00% | ' | ' |
Estimated Marketing Costs, Range Maximum | 6.00% | ' | ' |
Estimated Marketing Costs, Range Average | 6.00% | ' | ' |
Estimated Property Maintenance, Range Minimum | 3.60% | ' | ' |
Estimated Property Maintenance, Range Maximum | 3.60% | ' | ' |
Estimated Property Maintenance, Range Average | 3.60% | ' | ' |
Mortgage Servicing Rights | Discounted Cash Flow Valuation Technique | ' | ' | ' |
Unobservable Inputs | ' | ' | ' |
Interest Rate, Range Minimum | 2.60% | 2.00% | ' |
Interest Rate, Range Maximum | 7.90% | 8.10% | ' |
Interest Rate, Range Average | 4.30% | 4.60% | ' |
Loan Term (in months), Range Minimum | 82 | 72 | ' |
Loan Term (in months), Range Maximum | 527 | 458 | ' |
Loan Term (in months), Range Average | 312 | 323 | ' |
Other Real Estate Owned | Third Party Appraisal Valuation Technique | ' | ' | ' |
Unobservable Inputs | ' | ' | ' |
Discount of Market Value, Range Minimum | 0.00% | 0.00% | ' |
Discount of Market Value, Range Maximum | 0.00% | 19.00% | ' |
Discount of Market Value, Range Average | 0.00% | 4.00% | ' |
Estimated Marketing Costs, Range Minimum | 0.00% | 4.00% | ' |
Estimated Marketing Costs, Range Maximum | 6.00% | 8.00% | ' |
Estimated Marketing Costs, Range Average | 2.40% | 7.00% | ' |
Estimated Property Maintenance, Range Minimum | 0.00% | 0.00% | ' |
Estimated Property Maintenance, Range Maximum | 0.00% | 2.00% | ' |
Estimated Property Maintenance, Range Average | 0.00% | 0.40% | ' |
Recovered_Sheet7
Fair Value Measurements - Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Cash and Cash Equivalents | $15,880 | $23,853 | $21,158 | $24,597 |
Available-for-sale Securities Fair Value | 430,775 | 383,909 | ' | ' |
Other investments | 19,782 | 12,867 | ' | ' |
Loans held for sale | 1,509 | 8,829 | ' | ' |
Accrued interest receivable | 3,447 | 3,340 | ' | ' |
Loans, net | 824,881 | 735,271 | ' | ' |
Mortgage servicing rights | 1,473 | 1,009 | 1,057 | ' |
Federal Home Loan Bank advances | 362,000 | 207,000 | ' | ' |
Federal Funds Purchased | 0 | 11,000 | ' | ' |
Deposits | 813,574 | 816,302 | ' | ' |
Letters of Credit Outstanding, Amount | 113,425 | 67,084 | ' | ' |
Fair Value, Level 1 Inputs | Carrying Amount | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Cash and Cash Equivalents | 15,880 | 23,853 | ' | ' |
Fair Value, Level 1 Inputs | Fair Value | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Cash and Cash Equivalents | 15,880 | 23,853 | ' | ' |
Fair Value, Level 2 Inputs | Carrying Amount | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Available-for-sale Securities Fair Value | 430,775 | 383,909 | ' | ' |
Other investments | 19,782 | 12,867 | ' | ' |
Loans held for sale | 1,509 | 8,829 | ' | ' |
Accrued interest receivable | 3,447 | 3,340 | ' | ' |
Federal Home Loan Bank advances | 362,000 | 207,000 | ' | ' |
Federal Funds Purchased | 0 | 11,000 | ' | ' |
Accrued interest payable | 389 | 460 | ' | ' |
Fair Value, Level 2 Inputs | Fair Value | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Available-for-sale Securities Fair Value | 430,775 | 383,909 | ' | ' |
Other investments | 19,782 | 12,867 | ' | ' |
Loans held for sale | 1,522 | 9,094 | ' | ' |
Accrued interest receivable | 3,447 | 3,340 | ' | ' |
Federal Home Loan Bank advances | 360,576 | 208,216 | ' | ' |
Federal Funds Purchased | 0 | 11,000 | ' | ' |
Accrued interest payable | 389 | 460 | ' | ' |
Fair Value, Level 3 Inputs | Carrying Amount | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Loans, net | 824,881 | 735,271 | ' | ' |
Mortgage servicing rights | 1,473 | 1,009 | ' | ' |
Interest Rate Lock Commitments, at Fair Value | 56 | 264 | ' | ' |
Deposits | 813,574 | 816,302 | ' | ' |
Other secured borrowings | 2,000 | 8,000 | ' | ' |
Fair Value, Level 3 Inputs | Fair Value | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Loans, net | 840,478 | 743,463 | ' | ' |
Mortgage servicing rights | 1,473 | 1,009 | ' | ' |
Interest Rate Lock Commitments, at Fair Value | 56 | 264 | ' | ' |
Deposits | 824,856 | 820,551 | ' | ' |
Other secured borrowings | 2,049 | 8,091 | ' | ' |
Off-balance Sheet Financial Instruments | Carrying Amount | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Commitments, Fair Value Disclosure | 0 | 0 | ' | ' |
Letters of Credit Outstanding, Amount | 0 | 0 | ' | ' |
Off-balance Sheet Financial Instruments | Fair Value | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' |
Commitments, Fair Value Disclosure | 0 | 0 | ' | ' |
Letters of Credit Outstanding, Amount | $0 | $0 | ' | ' |
Financial_Instruments_with_Off2
Financial Instruments with Off-Balance Sheet Risk (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financial Instruments with Off-Balance Sheet Risk [Abstract] | ' | ' |
Commitments to extend credit | $108,285 | $66,826 |
Standby letters of credit | 5,140 | 258 |
Letters of Credit | 113,425 | 67,084 |
Commitments to fund fixed rate loans | $15,647 | $10,178 |
Minimum interest rate on commitments to fund fixed-rate loans | 2.24% | 2.35% |
Maximum interest rate on commitments to fund fixed-rate loans | 10.00% | 12.99% |
Parent_Company_Only_Condensed_2
Parent Company Only Condensed Financial Information - Balance Sheet (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and Cash Equivalents | $15,880 | $23,853 | $21,158 | $24,597 |
Other assets | 4,205 | 7,154 | ' | ' |
Total assets | 1,391,313 | 1,257,349 | ' | ' |
Other Liabilities | 6,597 | 9,469 | ' | ' |
Stockholders' Equity | 207,142 | 205,578 | 199,024 | 198,627 |
Total liabilities and stockholders’ equity | 1,391,313 | 1,257,349 | ' | ' |
Parent Company | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Cash and Cash Equivalents | 9,069 | 9,247 | ' | ' |
Investments in Bank | 189,704 | 187,700 | ' | ' |
ESOP note receivable | 8,447 | 8,724 | ' | ' |
Other assets | 53 | 0 | ' | ' |
Total assets | 207,273 | 205,671 | ' | ' |
Payable to subsidiary | 126 | 78 | ' | ' |
Other Liabilities | 5 | 15 | ' | ' |
Stockholders' Equity | 207,142 | 205,578 | ' | ' |
Total liabilities and stockholders’ equity | $207,273 | $205,671 | ' | ' |
Parent_Company_Only_Condensed_3
Parent Company Only Condensed Financial Information Parent Company Only Condensed Financial Information - Income Statement (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax benefit | $791 | $1,116 | $334 | $1,085 | $695 | $1,134 | $672 | $377 | $3,326 | $2,878 | $1,844 |
Net income | 1,624 | 2,196 | 674 | 1,933 | 1,159 | 2,296 | 1,440 | 803 | 6,427 | 5,698 | 3,967 |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income on ESOP loan | ' | ' | ' | ' | ' | ' | ' | ' | 284 | 293 | 301 |
Dividend Income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 2,000 |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 1 | 10 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,217 | 1,908 | 1,655 |
(Loss) income before income tax benefit and equity in undistributed earnings of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | -1,929 | -1,614 | 656 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -656 | -549 | -457 |
Equity in undistributed earnings of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 7,700 | 6,763 | 2,854 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $6,427 | $5,698 | $3,967 |
Parent_Company_Only_Condensed_4
Parent Company Only Condensed Financial Information Parent Company Only Condensed Financial Information - Cash Flow (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $1,624 | $2,196 | $674 | $1,933 | $1,159 | $2,296 | $1,440 | $803 | $6,427 | $5,698 | $3,967 |
Share-based Compensation | ' | ' | ' | ' | ' | ' | ' | ' | 1,827 | 1,331 | 308 |
Net change in other assets | ' | ' | ' | ' | ' | ' | ' | ' | 3,400 | -361 | 857 |
Net change in other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -1,000 | -348 | -984 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 24,827 | 11,165 | 16,834 |
Net cash (used in) provided by investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -168,299 | 77,556 | -237,416 |
Purchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | -31 | -894 | -10,333 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 135,499 | -86,026 | 217,143 |
Net decrease in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -7,973 | 2,695 | -3,439 |
Cash and cash equivalents, beginning of period | ' | ' | ' | 23,853 | ' | ' | ' | 21,158 | 23,853 | 21,158 | 24,597 |
Cash and cash equivalents, end of period | 15,880 | ' | ' | ' | 23,853 | ' | ' | ' | 15,880 | 23,853 | 21,158 |
Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 6,427 | 5,698 | 3,967 |
Equity in earnings of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | -7,700 | -6,763 | -4,854 |
Share-based Compensation | ' | ' | ' | ' | ' | ' | ' | ' | 683 | 513 | 178 |
Net change in other assets | ' | ' | ' | ' | ' | ' | ' | ' | -53 | 815 | -461 |
Net change in other liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -10 | 15 | 0 |
Net change in payable to subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 48 | -20 | 2 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -605 | 258 | -1,168 |
Dividend distribution from subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 2,000 |
Payment received on ESOP note receivable | ' | ' | ' | ' | ' | ' | ' | ' | 277 | 269 | 260 |
Net cash (used in) provided by investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 277 | 269 | 2,260 |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | 124 | 139 | 0 |
Purchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | -31 | -894 | -10,333 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 57 | 33 | 0 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 150 | -722 | -10,333 |
Net decrease in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -178 | -195 | -9,241 |
Cash and cash equivalents, beginning of period | ' | ' | ' | 9,247 | ' | ' | ' | 9,442 | 9,247 | 9,442 | 18,683 |
Cash and cash equivalents, end of period | $9,069 | ' | ' | ' | $9,247 | ' | ' | ' | $9,069 | $9,247 | $9,442 |
Earnings_Per_Share_Details
Earnings Per Share - (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $1,624 | $2,196 | $674 | $1,933 | $1,159 | $2,296 | $1,440 | $803 | $6,427 | $5,698 | $3,967 |
Basic Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding, basic | ' | ' | ' | ' | ' | ' | ' | ' | 11,450,184 | 11,367,708 | 11,588,447 |
Less: Average unallocated ESOP shares | ' | ' | ' | ' | ' | ' | ' | ' | -817,305 | -855,393 | -827,768 |
Average unvested restricted stock awards | ' | ' | ' | ' | ' | ' | ' | ' | -220,915 | -176,968 | -65,713 |
Average shares for basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 10,411,964 | 10,335,347 | 10,694,966 |
Earnings Per Share, Basic | $0.16 | $0.21 | $0.06 | $0.19 | $0.11 | $0.22 | $0.14 | $0.08 | $0.62 | $0.55 | $0.37 |
Diluted shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average shares for basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 10,411,964 | 10,335,347 | 10,694,966 |
Add: Dilutive effects of share-based compensation plan | ' | ' | ' | ' | ' | ' | ' | ' | 134,497 | 68,177 | 4,488 |
Average shares for diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 10,546,461 | 10,403,524 | 10,699,454 |
Earnings Per Share, Diluted | $0.15 | $0.21 | $0.06 | $0.18 | $0.11 | $0.22 | $0.14 | $0.08 | $0.61 | $0.55 | $0.37 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and Dividend Income, Operating | $12,389 | $13,432 | $11,381 | $11,064 | $11,558 | $12,495 | $12,919 | $13,056 | $48,266 | $50,028 | $53,781 |
Interest Expense | 1,779 | 1,827 | 1,953 | 2,080 | 2,232 | 2,511 | 3,024 | 3,077 | 7,639 | 10,844 | 13,067 |
Net interest income | 10,610 | 11,605 | 9,428 | 8,984 | 9,326 | 9,984 | 9,895 | 9,979 | 40,627 | 39,184 | 40,714 |
Provision for Loan and Lease Losses | 450 | 200 | 1,100 | 500 | 0 | 550 | 0 | 1,400 | 2,250 | 1,950 | 3,230 |
Net interest income after provision for loan losses | 10,160 | 11,405 | 8,328 | 8,484 | 9,326 | 9,434 | 9,895 | 8,579 | 38,377 | 37,234 | 37,484 |
Noninterest Income | 3,317 | 3,797 | 3,383 | 5,862 | 4,257 | 4,704 | 3,340 | 3,484 | 16,359 | 15,785 | 13,150 |
Noninterest Expense | 11,062 | 11,890 | 10,703 | 11,328 | 11,729 | 10,708 | 11,123 | 10,883 | 44,983 | 44,443 | 44,823 |
Income before income tax expense | 2,415 | 3,312 | 1,008 | 3,018 | 1,854 | 3,430 | 2,112 | 1,180 | 9,753 | 8,576 | 5,811 |
Income tax benefit | 791 | 1,116 | 334 | 1,085 | 695 | 1,134 | 672 | 377 | 3,326 | 2,878 | 1,844 |
Net income | $1,624 | $2,196 | $674 | $1,933 | $1,159 | $2,296 | $1,440 | $803 | $6,427 | $5,698 | $3,967 |
Earnings Per Share, Basic | $0.16 | $0.21 | $0.06 | $0.19 | $0.11 | $0.22 | $0.14 | $0.08 | $0.62 | $0.55 | $0.37 |
Earnings Per Share, Diluted | $0.15 | $0.21 | $0.06 | $0.18 | $0.11 | $0.22 | $0.14 | $0.08 | $0.61 | $0.55 | $0.37 |